Avia Solutions Group Q3 revenues up 25%
Dublin-based Avia Solutions Group, the world’s largest ACMI (Aircraft, Crew, Maintenance, and Insurance) provider, reported robust financial performance for the third quarter of 2024.
Revenue surged by 25% year-on-year to €2.06 billion, with net profit rising to €83.3 million, up from €70.8 million in the same period last year. EBITDA grew 18% to €406 million.
The company, operating a fleet of 221 aircraft (183 passenger aircraft and 38 freighters), derived the majority of its revenue from Europe (55.1%) and Asia (27.9%) over the first nine months of the year, with contributions from the Americas (11.8%) and smaller markets globally.
As part of its expansion strategy to meet strong global demand, Avia acquired Australian carrier Skytrans earlier this year, increasing its air operator certificates (AOCs) to 11.
The group also launched its first Thai AOC, Thai SmartLynx, and plans to secure AOCs in Malaysia, the Philippines, and Brazil by 2025. This continued growth reflects the group’s commitment to scaling operations during peak demand seasons.
Jonas Janukenas, CEO of Avia Solutions Group, said: “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.
“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.”
