FAI Aviation Group has said it expects to report a substantial increase in profits, supported by increased activity in its charter and air ambulance businesses.
FAI, which supplies mission-critical aviation services to customers around the world, anticipates record sales across the business for 2022, with consolidated group revenues of more than €120 million (US$120 million).
The group’s revenues for charter and MRO have each increased by more than 30% compared with the same time last year, despite challenging high fuel prices.
During the pandemic, a decrease in charter business was offset by an equivalent increase in its air ambulance operations. Since the end of the pandemic, the group has experienced a steady increase in air ambulance work while charter has outperformed.
The group expects to see a more moderate growth forecast at 8-10% per annum over the next five years.
In 2022 its maintenance division FAI Technik, which specializes in Bombardier business jets, completed five 120 / 240-month inspections on the Bombardier Global 700, eight 96/192 months inspections of Challenger 600 series aircraft and two 12-year inspections of Learjet 60’s.
Across its aircraft sales business, four sales transactions were closed in the first nine months of this year with two deals pending which are expected to close in the fourth quarter.
Siegfried Axtmann, founder and chairman of FAI Aviation Group said, “We are very pleased with our recent success. This achievement has been made possible by the dedication of our fabulous team who deliver outstanding customer service and absolute professionalism in everything that they do. Customers appreciate that and can feel the difference.”
FAI is also continuing its role as the official supplier of the McLaren F1 Team, and will be supporting the team during the remaining races of the season.