Announcing its financial results for the third quarter of 2023, Avia Solutions Group has posted an adjusted EBITDA of €316 million (USD $346 million), representing a 31% growth compared to the same period last year. The group’s revenue also increased by 22% to €1.64 billion (USD $1.8 billion).
Attributing the positive financial results to “the substantial demand for ACMI services in the global aviation market,” CEO of Avia Solutions Group Jonas Janukenas noted that the “extremely active summer season” had further helped the company’s growth. In Q3 2023, the main revenue-generation regions were Europe (69.4%), followed by Asia (19.2); the latter representing the greatest annual revenue growth of a 9.2% increase.
Avia Solutions Group’s plans for further expansion in the Asia-Pacific region include the establishment of new companies BNN Airlines Thailand and BNN Airlines Indonesia, with the intention of owning five airlines operating in Asian countries by the end of 2024. Significant investments in MRO infrastructure in the region are also being made, with an initial development phase amounting to €25 million (US$27 million).
"Expanding in Southeast Asia and South America is a key strategic direction for the group, allowing us to balance the reduced seasonal demand in Europe during the winter by shifting aircraft to these regions,” confirmed Janukenas.
Avia Solutions Group currently operates in 68 countries worldwide with a fleet of 197 passenger and cargo aircraft, 24 of which have been added since the beginning of 2023.