FAI Reports Record Sales and Another Fleet Expansion

Nov 24, 2009 10:29 AM

As of September 30, 2009, German Air Ambulance-Specialist FAI rent-a-jet AG (dba as Flight-Ambulance-International) reported a 45 percent increase in revenue compared to September 30, 2008.

“While most of our competitors are happy by returning to their 2008 numbers in 2009, FAI´s growth is not typical for the General Aviation Industry," said FAI´s chairman Siegfried Axtmann in EBAN-Magazine. "Even FAI´s Flagship-Sector, the Air Ambulance-Division has grown by 10 percent to €17 m.p.a. despite the revenues of the troubled travel-industry.”

FAI´s NGO-Business has grown by more than 100 percent in 2009 compared to 2008, while six Learjets 55/60 are operating under long term-NGO-Contracts in Africa.

FAI´s fleet expanded by a fourth Learjet 60 (S/N 170) and will add two more CL 604 in January 2010. One of them will be operated by FAI´s Swiss subsidiary Nomad Aviation AG, totalling FAI´s fleet to 16 jet aircraft (12 Learjets of the models 35A/55/60, three CL 604 and one Falcon 900 EASy).

This expansion will make FAI the world´s largest Medevac + Casevac Operator with a fleet of 13 Aircraft in dedicated Medevac + Casevac Service.

FAI is expecting to receive the Building Permit for its new 5,000-square-meter hangar and office building soon to ensure ground-breaking for this €10 million investment before year end.

For fiscal year 2009, FAI is expecting total revenues of €36 million (2008: €27 million), while another boost to close to €50 million is expected for 2010.

FAI is a Joint-Venture of Marfin Investment Group (MIG) from Greece and Axtmann-Holdings, Germany. MIG recently acquired Greece’s Flag-Carrier Olympic Airways by 100 percent from the Greek Government.

FAI´s sister company, Olympic Air, is operating the youngest airliner fleet in Eastern Europe consisting of new Q 400´s and A 319/320´s only.

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