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Avia Solutions Group, the world’s largest ACMI provider (Aircraft, Crew, Maintenance, and Insurance) services and owner of global pilot training group BAA Training, announced that in its first half results of 2024 it reported a 34% growth in EBITDA year-on-year to €179 million.

Over the first half of 2024, European customers accounted for 55.1% of revenues, while Asia accounted for 27.9%. The Americas, Africa, Australia and Pacific Islands represented 11.8%, 2.7%, and 1.2%, of revenues respectively.

Driving this increase in revenues, and a 44% increase in net profit for the second quarter of 2024 compared to the second quarter of 2023, was the implementation of Avia Solutions Group’s ongoing strategy of investing in bolstering its capacity in a timely manner to meet the continued strong demand from airlines globally for additional aircraft during their peak seasons.

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. The Group is planning to obtain further air operator certificates (AOCs) in Malaysia, Thailand, Philippines and Brazil in the near future.

As part of this strategy, the Group completed the acquisition of Australian based Skytrans in the first half of 2024. The obtained AOC brings the total number of air operator certificates held by the group to 11.

“Our performance over the first half of 2024 underscores our strong market position and ability to meet the rising demand for passenger aircraft. Our 44% growth in net profit for the second quarter is a testament to our team’s dedication and the trust our airline partners place in us, particularly during the peak holiday season in counter seasonal markets. We remain committed to driving further growth and delivering value to our stakeholders.” Jonas Janukenas, CEO of Avia Solutions Group, said. “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.”

Testament to investor confidence in the Group’s strategy is the increase of group equity capital by €307 million to €655 million over the first half of 2024. Part of this growth in group equity capital included US-based Certares Management LLC, a private equity investment firm which invested into Avia in 2021, electing to convert its preferred shares to ordinary shares.

To further the Group’s business development initiatives, Avia Solutions Group also successfully issued US$300 million of five-year senior unsecured bonds with coupon of 9.75% in the first half of 2024.

Avia Solutions Group offers its services to customers including some of the largest airlines in the world. The group operates in 68 countries around the world and consists of 100+ companies providing a wide range of aviation services like aircraft maintenance and repair (MRO), pilot and crew training, ground handling, and more. The group’s team encompasses 12,000 highly qualified aviation professionals.

Source: Avia Solutions Group