Avia Solutions Group Q12023 revenue up 28%

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EBITDA declined to €23 million from €42 million in Q12022, net loss increased to €33 million compared to €13 million

Avia Solutions Group, the world’s largest ACMI (aircraft, crew, maintenance, and insurance) provider by fleet size, reported a 28 per cent increase in revenue at €404 million for the first quarter of 2023 compared to the same period last year.

While EBITDA declined to €23 million from €42 million in Q12022, net loss increased to €33 million compared to €13 million.
“The Q1 results were mainly influenced by the expansion of the aircraft fleet. Compared to the same period last year, the group’s aircraft fleet increased by 43 aircraft to 180 — 140 passengers and 40 cargo aircraft. The share of expenses in Q1 was increased by the group’s preparation for the high season during summertime – increased preparations for aircraft operations, aircraft maintenance, crew recruitment and training, and other related costs.”

Jonas Janukenas, CEO, Avia Solutions Group says: “Constantly growing demand for ACMI services in the market encourages us to continue our decisive fleet expansion strategy to increase our fleet, particularly passenger aircraft fleet. The preparations for the high season are going according to plan and the group’s whole passenger fleet supply is already booked by major European airlines to support their increased summer operations.”

The main markets Avia Solutions Group generated revenue in Q12023 were Western Europe (72 per cent), Asia (11 per cent), North America (eight per cent), Africa (six per cent) and Australia and the Pacific (three per cent).

In March, Avia Solutions Group moved its headquarters to Dublin, Ireland and became the second-largest Irish-registered aviation business behind aviation giant Ryanair. “The group operates in 68 countries worldwide and has offices in New York, Dubai, Dublin, and other cities.” Avia Solutions Group acquired Chapman Freeborn in 2019.

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Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.