FAI predicts €120m revenue for 2022
FAI Aviation Group anticipates its revenue for the year will be €120m (£105m). The group said in a financial update that the revenues are coming from record sales in charter and MRO services, which are up 30% compared with this time last year.
The charter, maintenance and air ambulance group said it has experienced a steady increase in air ambulance work since the pandemic, with charter outperforming during the same period, creating unexpected growth in the sector.
This year, the group’s maintenance division, FAI Technik, completed five 120/140-month inspections on the Bombardier Global 700, eight 96/192-month inspections on the Challenger 600 series and two 12-year inspections of Learjet 60 aircraft. Labour production hours have reached almost 100,000, making 2022 the business year for the division since it was established three decades ago.
Four aircraft sales transactions were closed in the first nine months of 2022, with two further deals expected to close in the fourth quarter.
A more moderate growth of 8-10% per year is expected for the group over the next five years.
“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,” said Siegfried Axtmann, founder and chairman, FAI Aviation Group. “Customers appreciate that and can feel the difference.”
Back in February, FAI Technik completed the sale of its refurbished Bombardier Global Express Project Pearl to an undisclosed private US buyer for an unknown amount.