Dublin-based ACMI provider, Avia Solutions Group, has recorded a nine-month revenue of €2.06 billion ($2.18 billion), up by 25% compared to the same period of last year.
The group which operates a 221 aircraft fleet, split between 183 passenger aircraft and 38 freighters, also recorded a net profit of €83.3 million ($87.9 million) from €70.8 million ($74.8 million). The group’s EBITDA for the period was €406 million ($428.7 million), an 25% increase compared to the same quarter of last year.
Jonas Janukenas, CEO of Avia Solutions Group commented on the quarter: “Expanding into Southeast Asia and other counter cyclical markets represents a pivotal strategic direction for the group. These regions offer significant growth opportunities and enable us to optimize fleet utilization year-round.
He continued: “By leveraging the robust demand in these markets, particularly during Europe’s off-peak winter season, we can effectively balance seasonal variations, ensuring our aircraft remain active and profitable while supporting our global network and customer needs.”
The Group completed the acquisition of Australian based Skytrans in the first half of 2024, bringing the total number of air operator certificates held by the Group to 11 and over the third quarter also established its first AOC in Thailand, Thai SmartLynx. The Group is planning to obtain further air operator certificates (AOCs) in Malaysia, Philippines and Brazil by the end of 2025.
To further the Group’s business development initiatives, Avia Solutions Group also successfully issued $300 million of five-year senior unsecured bonds with a coupon of 9.75% in the first half of 2024.
Over the first 9 months of 2024, the main revenue-generating regions for Avia Solutions Group were Europe (55.1%) and Asia (27.9%). The Americas, Africa, Australia and Pacific Islands represented 11.8%, 2.7%, and 1.2% of revenues respectively.