Market Intelligence: Indian Subcontinent
World’s Largest ACMI Provider and Aviation Conglomerate Avia Solutions Group Records 26% Revenue Growth in Q1 2024
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 its financial performance results for Q1 2024. The Group’s revenue grew by 26%, reaching €508.8 million. The growth was primarily driven by a significant increase in passenger flight volumes – the Group’s revenue from passenger aircraft ACMI services grew 2.3-fold, reaching €216 million.
The Group’s EBITDA stood at €11.9 million, while its net losses comprised €97.5 million, meeting the overall expectations for Q1. These results were mostly due to investment into fleet capacity and crew, in preparation for a record-breaking summer season, as well as to strategic expansion in new markets.
During the first quarter of this year, the Group expanded its fleet with 13 new aircraft, bringing the total to 171 passenger and 42 cargo aircraft. Even though, in the aviation industry, the first quarter of any given year is typically considered not as profitable, the Group’s entire fleet, which today encompasses 213 aircraft, has already been leased to major European and international airlines, including Lufthansa Group, Turkish Airlines, Wizz Air, TUI, IndiGo, among others.
“We are now fully prepared for the summer season, which we expect to break all previous records. The Group’s aviation services infrastructure and global scale give us a significant competitive advantage and the status of industry leaders,” said Jonas Janukenas, CEO of Avia Solutions Group.
Avia Solutions Group is consistently implementing its expansion strategy in Asia, Asia-Pacific, and South America, which enables it to efficiently manage seasonality in Europe by shifting aircraft from one region to another. Early in Q1 2024, the Group acquired the Australian airline Skytrans, and is planning to establish ACMI airlines in Brazil, the Philippines, Thailand, and Malaysia later this year.
Based in Ireland, Avia Solutions Group operates in 68 countries around the world, and has offices in Lithuania, New York, Dubai, Dublin, and other cities around the globe. The Group 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
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Source: FSTC
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International Simulation Provider Simaero Enters India With $100 Million Investment, To Train 5,000 Pilots Over 5 Years
- India presently has approximately 12,000 pilots. India’s growing aviation sector requires 3x pilots over the next two decades
- Simaero India’s state-of-the art training facility in Delhi (NCR) will cater to pilot training needs of India and South Asia
- Khushbeg Jattana spearheads the team as the General Manager of Simaero India
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FFS Training Center Simaero India General Manager Provides Update on New 8 Bay Training Center
In an exclusive interview with Indian media outlet The Times of India, Khushbeg Jattana, General Manager of SIMAERO India, revealed the international full flight simulator training center operator Simaero has decided to invest $100 million in India to train up to 5,000 pilots over the next 5 years.
“A moment of pride and joy for me as I start another exciting journey to spearhead the growth of Indian Aviation. With record aircraft orders last year, we are excited to join hands with airlines and provide par excellence training for the next generation of pilots. Our state of the art facility in Delhi NCR, spread over 4500 sq meter, is expected to be operational by the end of the year and will be equipped with A320 Neo and B737 NG simulators to begin with. Our training program is headed by Capt.Manjit singh bodhi who is a distinguished aviation professional with 35 years of experience with leading airlines and simulator training companies” shared Khushbeg Jattana.
Simaero’s first training center in Delhi NCR is set to be operational by the end of 2024, featuring eight full-flight simulators for aircraft such as the A320 NEO and B737NG. The company is also evaluating additional satellite centers in Mumbai, Bangalore, and Kolkata within the next five years.
Source: Simaero and Times of India
Photo Credit: Simaero
