Avia Solutions Group is an ACMI (aircraft, crew, maintenance, and insurance) provider and holding company. Established in 2010 in Lithuania, it moved its headquarters to Dublin, Ireland in 2023, and has additional offices around the world. As of January 2024, the company maintained a fleet of over 200 aircraft among the group's subsidiaries, with annual revenue of €2 billion.

History

The history of Avia Solutions Group began in 2005 when Lithuanian Airlines (LAL), the national airlines of Lithuania, was privatized. LAL investment management acquired 100% of the airline shares for 7.53 million Euro. The airline was re-branded as FlyLAL and several related companies were registered, including Baltic Ground Services (ground handling), FL Technics (aviation maintenance, repair, and operations), and Bilietų Pardavimo Centras (travel agency). In 2005, FL Technics was founded. The company opened its first hangar at Vilnius International Airport. In November 2006, Baltic Aviation Academy (now known as BAA Training) was founded, to provide professional training for aviation specialists. In 2007, JetMS was founded under the name FL Technics Jets. In 2007, Aviation Asset Management was founded (now known as AviaAM Leasing). In 2008, a charter airline called Small Planet Airlines was founded. In 2010, the LAL companies were consolidated into Avia Solutions Group, and the group was listed on the Warsaw Stock Exchange in 2011. In November 2018 it was delisted from the WSE. In 2021, the group received €300 million in financing from US-based investment management company Certares. The company moved its headquarters from Lithuania to Cyprus, and then from Cyprus to Dublin in May 2023. The company is Ireland's second largest aviation business after Ryanair. In 2024, Avia subsidiary Ascend Airways was granted an Air Operator Certificate. It proposes to fly out of London Gatwick and Southend in England. In 2024, ASG announced plans to expand to the United States, partnering with Impact Investments, an investment firm headed by former US Secretary of State Mike Pompeo. In addition to financial support, the firm will advise on further strategic development in the US. 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.

Business model

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. Among its notable subsidiaries are: SmartLynx Airlines, Avion Express, Magma Aviation and KlasJet. Some of its customers include: Lufthansa, Turkish Airlines, Wizzair, Ryanair and SAS. 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. The company flies about 6 million passengers per year, and has over 12,000 employees located in 100 offices around the world. As of March 2024, the company owns twelve AOC-certified airlines, with a plan to purchase seven more within the year. Gediminas Žiemelis is the founder, chairman and majority owner of the company, and Jonas Janukenas is the CEO.

Subsidiaries

As of 2024, Avia Solutions Group controls the following companies under the following business areas:

ACMI

Aircraft Leasing

Aviation Media and Events

Aviation Training

Business and Corporate Aviation

Cargo Aviation

Charter Broker

Ground Handling

MRO

Online Platforms

Public Transport Solutions

Railway Freight