Avia Solutions Group (ASG) – a company of Lithuanian origin that has actively expanded its aviation portfolio in recent years – has decided to shut down several of its airlines and revise its development strategy. One of the steps taken was the suspension of a project in the Philippines aimed at establishing a new carrier, Avion Express Philippines, operating in the wet-lease segment.
ASG attributes this decision to a broader business restructuring driven by deteriorating market conditions within the aviation industry. Previously, the Group actively established new airlines across various regions, increasing its number of Air Operator Certificates (AOCs) in an effort to diversify and mitigate seasonal risks within the European wet-lease market.
Currently, Avia Solutions Group manages approximately ten AOCs. The company notes that the ongoing structural adjustment is designed to optimize its asset portfolio and adapt to changing market conditions, following a period of rapid growth and international expansion.