Market Intelligence: South East Asia

World’s Largest ACMI Provider and Aviation Conglomerate, Avia Solutions Group, Reports Revenues up 25% to €2 Billion for 9 Months 2024

Dublin, Ireland – Dublin-based Avia Solutions Group, the world’s largest ACMI (Aircraft, Crew, Maintenance, and Insurance) provider, which operates a 221 aircraft fleet in total, split between 183 passenger aircraft and 38 freighters, has announced its financial results for the three quarters of this 2024.

The Group’s revenues increased by 25% to €2,06 billion compared to the same period last year, while net profit also rose to €83,3 million from €70,8 million. The group’s EBITDA for the period stands at €406 million, an 29% increase compared to the same period last year.

Over the first 9 months of 2024, the main revenue-generating regions for Avia Solutions Group were Europe (55,1%) and Asia (27,9%). The Americas, Africa, Australia and Pacific Islands represented 11,8%, 2,7%, and 1,2% of revenues respectively.

Avia Solutions Group has an ongoing strategy of investing in bolstering its capacity to meet the continued strong demand from airlines globally for additional aircraft during their peak seasons. The Group completed the acquisition of Australian based Skytrans in the first half of 2024, bringing the total number of air operator certificates held by the Group to 11 and over the third quarter also established its first AOC in Thailand, Thai SmartLynx. The Group is planning to obtain further air operator certificates (AOCs) in Malaysia, Philippines and Brazil by the end of 2025.

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.”

According to Janukenas, the cargo market has proved challenging in 2024 due to overcapacity. However, the Group anticipates increasing activity in the cargo market in 2025.

To further the Group’s business development initiatives, Avia Solutions Group also successfully issued US$300 million of five-year senior unsecured bonds with a coupon of 9,75% in the first half of 2024.

Testament to investor confidence in the Group’s strategy is the increase of group equity capital by €300 million in 2024. This growth in group equity capital relates to 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.

In November, the Group placed its first direct order for 80 Boeing 737 MAX, split between 40 firm and 40 purchases rights. The deliveries will start in 2030.

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 250+ 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 14,000 highly qualified aviation professionals.

Source: Avia Solutions Group
Photo Credit: Avia Solutions Group

Related Posts

Southeast Asian Carrier Welcomes First of 20 New Airbus Widebody Aircraft in November 2024

Malaysia Aviation Group (MAG), the parent company of national carrier Malaysia Airlines, welcomed the arrival of its first Airbus 330-900 (A330neo) aircraft, powered by Rolls-Royce Trent 7000 engines today as part of the Group’s fleet modernisation strategy.

The aircraft, bearing registration number 9M-MNG, departed from the Airbus Delivery Centre in Toulouse, France on 28 November 2024 at 8:52pm local time and safely arrived at its home base at KL International Airport (KUL) on 29 November 2024 at 4:52 pm local time. Prior to its arrival, the aircraft was escorted by a Royal Malaysian Air Force (RMAF) Sukhoi Su-30MKM fighter jet and performed a spectacular flypast, offering plane spotters an extraordinary sight. Upon arrival, the aircraft was greeted with a water salute.

The journey of flight MH5039 took a total flight time of 13 hours and was flown by Captain Khairul Syukri Khalid, Captain Azim Sham Che Din, Captain Zainuddin Hussein and Captain Najwan Reshan Nahdan Rengganathan.

In August 2022, MAG signed Memorandum of Understandings (MOU) with Airbus, Rolls-Royce and Avolon for the acquisition of 20 A330neo aircraft which are scheduled to be delivered through to 2028.

Source: Malaysia Aviation Group

Related Posts

Pilot Training Industry Supplier Feature – True Course Simulation

In this week’s AFM Pilot Training Leadership Interview Series we speak with Brett Watts  – CEO of True Course Simulations, a simulator manufacturer that specializes in virtual reality flight training.

True Course Simulation offers a simple 3-step learning process that includes a pre-flight briefing, interactive simulations, and visual demonstrations of maneuvers.

The conversation covers:

  • Company Evolution and Offerings: True Course Simulations (TCS) provides comprehensive VR-based flight training solutions that include hardware (immersive training devices), software (courseware), and data management tools. Originally focused on military contracts, the company has expanded to serve civilian flight schools globally, prioritizing innovation and efficiency in pilot training.
  • Global Expansion and Partnerships: TCS has established partnerships with flight training organizations worldwide, including recent device deployments to Nelson Aviation College (New Zealand), Embry-Riddle Asia (Singapore), and Sydney Flight College (Australia).
  • Key Trends in Pilot Training: Brett highlighted the increasing demand for efficiency due to rising costs and instructor shortages. Another trend is the growing adoption of automation and VR to supplement traditional training, reducing stress on students and instructors.
  • Impact on Training and Safety: TCS tools improve safety and efficiency by enabling students to master core skills in simulations before real-world training. This approach reduces cognitive overload and better prepares students for complex multitasking in the cockpit.
  • Mission: TCS stands out by offering an integrated system of VR labs, self-guided learning, and performance analytics. The company aims to empower students with confidence and proficiency while supporting partners in modernizing their training systems.

For more information:

You can find all of the AFM.aero Pilot Training Industry Interview Episodes here.

To stay up to date and get notified about all of the latest episodes from AFM you can follow us through the below platforms:

Related Posts

Australia’s RMIT Aviation Academy Prepares to Welcome Thai Airline’s Cadets to Campus in 2025

Bangkok, Thailand – RMIT Aviation Academy shared updates on its engagement with potential Vietjet Air Thailand pilot cadets as part of an ongoing cadet pilot training program partnership. The Aviation Academy is preparing to welcome a new group of cadets in Bendigo, Australia, by 2025, following an intensive selection process.

  • Recruitment for Vietjet Air Thailand pilot cadets began in June during the TVJ SkyCareers Festival, which drew 700 applicants.
  • The pool has now narrowed to 30 candidates in the final stage of selection

Source: Justin Brownjohn (RMIT University’s Aviation Academy)
Photo Credit: Justin Brownjohn (RMIT University’s Aviation Academy)

Related Posts