Avia Solutions H1 revenue up 22%
Throughout the first half of 2023, Avia Solutions increased its fleet by 19 additional aircraft
Avia Solutions Group, one of the world’s largest aircraft, crew, maintenance, and insurance (ACMI) providers, reported a 22 percent increase in revenue at €955 million ($1 billion) for the first half of 2023.
Adjusted EBITDA increased 20 percent to €133 million ($144 million), says an official release. "Due to the group’s investments in global expansion, the first quarter of this year had a loss of €34 million but the group generated a profit of €31 million during the second quarter, which more than doubled compared to the same period last year, and adjusted EBITDA increased significantly by 60% to €110 million."
Throughout the first half of 2023, the group increased its fleet by 19 additional aircraft. Presently, the group commands a fleet of 192 aircraft including 153 passenger and 39 cargo aircraft. "The addition of new aircraft for operational deployment, crew recruiting, and associated outlays led to a €3 million half-year loss."
Jonas Janukenas, CEO, Avia Solutions Group says: "Our paramount business direction remains in ACMI services. With an evident surge in market demand, our investments are not only directed at fleet advancement but also encompass the strategic acquisition of airlines to strengthen our position in the market, bolstering our operational prowess and extending our global flight footprint."
ACMI demand still exceeds supply, and the company sees a lot of prospects, the release added. "By acquiring two ACMI airlines, the leading Slovak AirExplore, and Synergy Aviation, operating in the United Kingdom, the group significantly improved its operational capacity. Additionally, BBN Airlines Indonesia, the group's subsidiary in Indonesia, will soon begin operations, expanding the group's regional presence."
Janukenas adds: "Our present development objectives are predominantly centred around Latin America, Asia, and Australia. By strategically reallocating aircraft to regions characterised by counter-seasonal patterns, we aim to adeptly manage the seasonal decline in demand within Europe during the winter."
Europe constitutes the lion's share of revenue at 71 percent followed by the Asian region at 16.3 percent, North and South America at 6.6 percent, Africa at 4.7 percent, and Australia and the Pacific region at 1.4 percent, the release added.