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Avia Solutions Group
Avia Solutions Group is an ACMI (aircraft, crew, maintenance, and insurance) provider and holding company. Established in 2010 in Lithuania,[3] it moved its headquarters to Dublin, Ireland in 2023,[4] and has additional offices around the world.[5] As of January 2024, the company maintained a fleet of over 200 aircraft among the group's subsidiaries, with annual revenue of €2 billion.[6] HistoryThe 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),[7] FL Technics (aviation maintenance, repair, and operations), and Bilietų Pardavimo Centras (travel agency). In 2005, FL Technics was founded.[8] 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.[9] In 2007, JetMS was founded under the name FL Technics Jets.[10] In 2007, Aviation Asset Management was founded (now known as AviaAM Leasing).[11][12] In 2008, a charter airline called Small Planet Airlines was founded.[13] In 2010, the LAL companies were consolidated into Avia Solutions Group,[3] and the group was listed on the Warsaw Stock Exchange in 2011.[14][15] In November 2018 it was delisted from the WSE.[16][17] In 2021, the group received €300 million in financing from US-based investment management company Certares.[18] The company moved its headquarters from Lithuania to Cyprus, and then from Cyprus to Dublin in May 2023.[19][20] The company is Ireland's second largest aviation business after Ryanair.[18] In 2024, Avia subsidiary Ascend Airways was granted an Air Operator Certificate. It proposes to fly out of London Gatwick and Southend in England.[21] 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.[22] In addition to financial support, the firm will advise on further strategic development in the US.[22] 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.[23] Business modelAvia 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.[24] 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.[25] 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.[26] The company flies about 6 million passengers per year, and has over 12,000 employees located in 100 offices around the world.[24] As of March 2024, the company owns twelve AOC-certified airlines, with a plan to purchase seven more within the year.[27] Gediminas Žiemelis is the founder, chairman and majority owner of the company,[25] and Jonas Janukenas is the CEO.[24] SubsidiariesAs of 2024, Avia Solutions Group controls the following companies under the following business areas:[28] ACMI
Aircraft LeasingAviation Media and Events
Aviation Training
Business and Corporate Aviation
Cargo AviationCharter Broker
Ground Handling
MRO
Online Platforms
Public Transport Solutions
Railway Freight
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