 | |
 Avia Solutions Group's service center in Vilnius | |
| Company type | Private company |
|---|---|
| Industry | Aviation, tourism |
| Founded | 2010[1] |
| Headquarters | Dublin, Ireland |
Key people | Gediminas Žiemelis (chairman of the board) Jonas Janukenas (CEO and member of the board) |
| Revenue | €2.263 billion (2023)[2] |
| €160 million (2023)[2] | |
Number of employees | 11 000+ (2023) |
| Rating | Fitch Ratings – BB S&P Global Ratings – BB- |
| Website | www |
Avia Solutions Group is aLithuanian-owned[3] ACMI (aircraft, crew, maintenance, and insurance) provider and holding company. Established in 2010 inVilnius,[4] it moved its headquarters to Dublin, Ireland in 2023,[5] and has additional offices around the world.[6] As of January 2024, the company maintained a fleet of over 200 aircraft among the group's subsidiaries, with annual revenue of €2 billion.[7]
The history of Avia Solutions Group began in 2005 when Lithuanian Airlines (LAL), the national airlines ofLithuania, was privatized. LAL investment management acquired 100% of the airline shares for 7.53 million Euro. The airline was re-branded asFlyLAL and several related companies were registered, including Baltic Ground Services (ground handling),[8]FL Technics (aviation maintenance, repair, and operations), and Bilietų Pardavimo Centras (travel agency). In 2005,FL Technics was founded.[9] The company opened its first hangar atVilnius International Airport. In November 2006, Baltic Aviation Academy (now known asBAA Training) was founded, to provide professional training for aviation specialists.[10] In 2007,JetMS was founded under the name FL Technics Jets.[11] In 2007, Aviation Asset Management was founded (now known as AviaAM Leasing).[12][13] In 2008, a charter airline calledSmall Planet Airlines was founded.[14]
In 2010, the LAL companies were consolidated into Avia Solutions Group,[4] and the group was listed on theWarsaw Stock Exchange in 2011.[15][16] In November 2018 it was delisted from the WSE.[17][18] In 2021, the group received €300 million in financing from US-based investment management company Certares.[19] The company moved its headquarters from Lithuania to Cyprus, and then from Cyprus to Dublin in May 2023.[20][21] The company is Ireland's second largest aviation business after Ryanair.[19]
In 2024, Avia subsidiary Ascend Airways was granted anAir Operator Certificate. It proposes to fly out ofLondon Gatwick andSouthend in England.[22] In 2024, ASG announced plans to expand to the United States, partnering with Impact Investments, an investment firm headed by formerUS Secretary of StateMike Pompeo.[23] In addition to financial support, the firm will advise on further strategic development in the US.[23]
On November 12 2024, Avia ordered 40 Boeing 737 Max 8 aircraft for delivery to its various ACMI airlines from 2030, with an option for an additional 40. Distribution amongst the groups subsidiary airlines is yet to be confirmed.[24]
Avia Solutions Group is a holding company with subsidiaries specializing in various aircraft related businesses, including aircraft maintenance; repair and overhaul (MRO); leasing and trading of aircraft; ground handling and fueling; aviation training; personnel resourcing; and business and corporate aviation, in addition to its primary function as an ACMI provider.[25] Among its notable subsidiaries are:SmartLynx Airlines,Avion Express,Magma Aviation andKlasJet. Some of its customers include:Lufthansa,Turkish Airlines,Wizzair,Ryanair andSAS.[26] The group also organizes humanitarian flights, airlifts, airdrops, search and rescue, evacuation and other aircraft leasing for the United Nations, world governments and other aid groups.[27] The company flies about 6 million passengers per year, and has over 12,000 employees located in 100 offices around the world.[25]As of March 2024, the company owns twelve AOC-certified airlines, with a plan to purchase seven more within the year.[28]Gediminas Žiemelis is the founder, chairman and majority owner of the company,[26] and Jonas Janukenas is the CEO.[25]
As of 2024, Avia Solutions Group controls the following companies under the following business areas:[29]