Dublin-based Avia Solutions Group, the world’s largest provider of ACMI (Aircraft, Crew, Maintenance, and Insurance) services, posted revenue of €1.2 billion for the first half of 2024, up 29% year-on-year. The group, which operates a fleet of 214 aircraft, also reported a 34% increase in EBITDA to €179 million.
Avia Solutions Group’s core markets remain Europe and Asia, which accounted for 55.1% and 27.9% of revenue, respectively. The revenue growth and 44% increase in net profit in Q2 2024 are driven by the company’s strategy to increase capacity to meet high demand from airlines during peak seasons. As part of this strategy, the group acquired Australia’s Skytrans and plans to expand its air operator certificates in Malaysia, Thailand, the Philippines, and Brazil.
In addition, in the first six months of 2024, the company’s capital increased by 307 million euros to 655 million euros, confirming investors’ confidence in the group’s strategy. To further develop, Avia Solutions Group also successfully issued a five-year bond for 300 million US dollars with a coupon of 9.75%.