Avion Express, one of the largest ACMI (Aircraft, Crew, Maintenance, and Insurance) operators globally, has successfully completed corporate restructuring process.
Avion Express UAB fulfilled its obligations to creditors almost two years ahead of schedule. It became the first airline in Lithuania to successfully complete its corporate restructuring process.
The restructure was initiated in 2021 due to the impact of the Covid-19 pandemic.
Restructure Completed Ahead of Schedule
Avion Express, a major player in the ACMI leasing market, has emerged stronger than ever after successfully navigating a corporate restructuring triggered by the COVID-19 pandemic.
This Lithuanian airline completed the process nearly two years ahead of schedule, becoming the first in the country to achieve this feat.
Impressively, they did this while not only maintaining operations but also achieving significant growth.
“The pandemic’s travel restrictions significantly impacted the entire aviation industry,” explained Darius Kajokas, CEO of Avion Express.
“To meet our financial obligations and ensure business continuity, we initiated a financial restructuring process in 2021.”
“We’ve consistently fulfilled our commitments throughout this period, and our business growth significantly aided in completing the restructuring early.”
Flexibility of Avion ACMI Model
Kajokas attributes this success to the swift rebound of the air travel market and the inherent flexibility of Avion Express’s ACMI model.
“Following the pandemic, passenger numbers surged, with airlines scrambling to re-establish operations. This led to a sharp rise in demand for ACMI services, where airlines lease entire packages including aircraft, crew, maintenance, and insurance.”
“Our agility and responsiveness allowed us to offer airlines prompt solutions to resume global passenger service,” he elaborated.
About ACMI Operations
Avion Express’s story is intertwined with the concept of ACMI (Aircraft, Crew, Maintenance, and Insurance). But what exactly is ACMI and how did it fuel Avion Express’s growth?
ACMI essentially provides a one-stop shop for airlines needing additional or replacement capacity. Imagine an airline experiencing a surge in seasonal demand or facing unexpected maintenance issues grounding their own aircraft.
ACMI allows them to lease a complete package – an aircraft, along with a fully qualified crew, maintenance services to keep the plane operational, and insurance to cover any potential risks.
This flexibility is particularly valuable in a dynamic industry like aviation. By choosing ACMI, airlines can quickly scale their operations up or down.
This can be done without the significant investment required to purchase and maintain their own fleet. This agility proved to be a goldmine for Avion Express during the pandemic recovery.
As airlines scrambled to resume operations, Avion Express’s responsive ACMI solutions were in high demand, propelling their growth and solidifying their position as a leader in the ACMI market.
Conclusion
Avion Express UAB, which operated a fleet of 14 Airbus A320s and A321s pre-pandemic, has grown significantly alongside its sister company Avion Express Malta.
Together, they boast a fleet exceeding 50 aircraft, solidifying their position as a global ACMI leader.
This growth trajectory continues – Avion Express is currently in the process of obtaining an Air Operator’s Certificate for their Brazilian subsidiary, further expanding their reach.
The impressive list of clients utilizing Avion Express’s services includes major airlines like airBaltic, Air France-KLM, British Airways, Lufthansa, SunExpress, TUI, VivaAerobus, and WizzAir.
A dedicated team of over 1,700 aviation professionals ensures seamless ACMI operations for their global clientele.
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