June 10 - UAE headquartered Maximus Air has grounded its fleet of A300 freighters with immediate effect.

The decision was made by the Maximus Air board of directors and Abu Dhabi Aviation, to allow the company to focus its efforts on more lucrative sectors of the aviation business.

Maximus Air stated that the air cargo market has changed significantly as a result of the global economic downturn. Passenger airlines have increased frequencies, operating larger aircraft with extensive bellyhold capacity, pushing down freighter yields and negating demand for the 45-tonne capacity A300F in the Gulf market.

The A300 freighters will be placed in dry storage awaiting a market recovery - Maximus Air states the freighters are also available for sale or dry lease.

Maximus will undertake a number of cost cutting and restructuring measures in the months ahead.

Maximus Air will use its remaining AN-124 freighter and two IL-76's to reinforce stronger areas of its operation: "Our charter service and in particular our Ukrainian fleet, continue to perform well and deliver good financial results. By focusing on our ad hoc business and on our core offerings safety, reliability and customer service we will be in the position to ensure prosperity for the airline in the years ahead," explained Buhazza.