Avia Solutions Group, the leading and world’s largest ACMI (aircraft, crew, maintenance, and insurance) provider by fleet size, reported their financial results for the first quarter of 2023. Compared to the same period last year, the group's revenue increased by 28%, to €404 million, while EBIDTA was €23 million compared to €42 million, and net loss amounted 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 a total of 180 — 140 passenger 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.
The global aviation group is gearing up for a busy summer season, indicated by an increase in demand for ACMI's services. “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,” said Jonas Janukenas, CEO of Avia Solutions Group.
The main markets Avia Solutions Group generated revenue in Q1 2023 were Western Europe (72%), Asia (11%), North America (8%), Africa (6%) and Australia and the Pacific (3%).
Going forward, Avia Solutions Group is planning to maintain its leading positions, further developing, and expanding in the ACMI market, where it sees huge potential. The group's development direction is the expansion in South America and Australia, which enables the company to better manage seasonality in the market. When demand for capacity naturally decreases throughout the winter in Europe, available aircraft can be relocated to these regions to optimise resources.
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.