Avia Solutions Group reports €1.2bn in revenue for first half of 2024

Dublin-based ACMI provider Avia Solutions Group reported first half 2024 revenues of €1.2bn, up 29% over the first half of last year. During the period, European customers accounted for 55.1% of revenues, while Asia and Americas accounted for 27.9% and 11.8%, respectively. Africa represented 2.7% of revenues, while Pacific Islands were 1.2%. In addition, it recorded a 34% growth in its first half EBITDA to €179 million. The company's net loss had improved from €2.9 million last year to €1 million in the first half of this year. The improvements were driven by the company's implementation of its ongoing strategy of to investment in capacity improvements to meet the continued strong demand from airlines for additional aircraft. The Avia Solutions Group has ongoing plans to further expand its global presence and ability to offer capacity solutions, particularly during peak seasons, to airlines around the world. It is planning to obtain further air operator certificates (AOCs) in Malaysia, Thailand, Philippines and Brazil in the near future. ""We remain committed to driving further growth and delivering value to our stakeholders,"" said Jonas Janukenas, CEO of Avia Solutions Group. ""As such, we will continue to expand our worldwide services operations, fleet capacity and capabilities to continue delivering exceptional services across passenger and cargo operations to customers."" Operating profit was down €42.7 million last year to €4.8 million this year. The group had acquired Australian based Skytrans in the first half of the year, which brought its AOCs to 11 in total.