Latvian-based SmartLynx Airlines has reported a record year for passenger operations, with 48% more flights operated and 53% more passengers carried (totalling over 6.5 million) in 2023 than the previous year.
This growth was made possible through the expansion of SmartLynx’s fleet from 49 to 67 aircraft, an increase of 37%. The new acquisitions included the carrier’s first 737 MAX 8 in the ACMI sector, with the airline noting that a growth in demand for ACMI passenger services in 2023 was ‘driven by airlines favoring leasing services over purchasing new aircraft and due to substantial delays (averaging 16 months) in delivering new aircraft and parts from manufacturers worldwide’.
“This year, we made our first flights for an Indian airline, and we can see great potential for growth there, as well as in the Middle East and North America,” noted SmartLynx Airlines CEO Žygimantas Surintas. With the number of signed contracts increasing by 12.5% in 2023, SmartLynx Airlines also added new contracts with IndiGo and a joint project with SAS to its portfolio of customers. “In response to market demand, next year we will continue investing heavily in increasing the airline’s fleet and aircraft crew capacity,” concluded Surintas.
Additionally, SmartLynx Airlines increased its 2023 air freight volume by 63%, although Surintas notes the need for patience with the market “in a state of temporary stagnation”. However, expecting that “the biggest return from this segment will be felt over the next few years,” SmartLynx has made ‘significant investments’ in expanding and upgrading its current fleet of 14 A321F freighters, with two more examples of the type due for delivery in early 2024.