newstodate.aero

Sep 01, 2023 (newstodate): Lithuania's Avia Solutions Group with HQ in Ireland reports a sound performance and a strong growth in aircraft fleet during this year's H1.
   Compared to H1/22, the group’s revenue grew by 22 percent. But due to the group’s investments in global expansion, the first quarter of this year ended in the red - while the second quarter saw profits doubling, y-o-y.
   Throughout the first half of 2023, the group grew the fleet by 19 additional aircraft.  
   By the end of 2022, the Group’s aircraft fleet consisted of 173 aircraft, including 136 passenger aircraft, and 37 freighter aircraft. Today, the group operates a fleet of 192 aircraft, including 153 passenger and 39 cargo aircraft.
   And the process is still ongoing:
   -Our paramount business direction remains in ACMI services. With an evident surge in market demand, our investments are not only directed at fleet advancement but also encompass the strategic acquisition of airlines to strengthen our position in the market, bolstering our operational prowess and extending our global flight footprint, says Jonas Janukenas, CEO of Avia Solutions Group CEO.
   In H1/23, ASG's airline companies included SmartLynx Airlines, Avion Express, Bluebird Nordic, BBN Indonesia Airlines, KlasJet, and Magma Aviation.  
   And by the start of July, 2023, Avia Solutions Group announced the acquisition of yet another airline, the UK-based carrier Synergy Aviation, Ltd., soon to be rebranded as Ascend Airways, adding a UK AOC to its capabilities and paving the road for further expansion in the UK market.