Genesis announces minority investment in Heston Airlines

A Heston Airlines Airbus climbs after takeoff.
Photo Credit: Genesis

Genesis, the Dublin-based aircraft leasing company, has announced a minority investment in Heston Airlines, the Lithuanian based airline that specialises in delivery of ACMI and charter services globally.

Genesis and Heston Airlines

Furtering the relationship between the two concerns, Genesis’ latest move is a minority investment in Lithuanian operator Heston Airlines.

This partnership originally began to take shape in 2020, when Genesis agreed to support Heston Aviation Group in establishing and launching the ACMI charter operation.

The first tangible result of this collaboration was the delivery of the first A320 aircraft to Heston Airlines in February 2021.

This crucial step allowed the Heston team to obtain their Air Operator’s Certificate in May 2021, marking the beginning of a promising journey.

A Heston Airlines Airbus with landing gear down.
Anna Zvereva, CC BY-SA 2.0, via Wikimedia Commons


Fleet Growth

Genesis’ support did not stop with the delivery of the first A320 aircraft. Shortly after obtaining their Air Operator’s Certificate, Heston Airlines embarked on revenue operations and added two more Genesis A320 aircraft to their fleet.

This rapid expansion demonstrated the commitment of both companies to challenge convention and thrive in an industry heavily impacted by the unprecedented disruptions caused by the Covid-19 pandemic.

The partnership between Genesis and the carrier has proven to be a catalyst for growth. Heston Airlines not only met but exceeded growth expectations, contributing in part to the robust recovery of passenger travel.

The carrier has achieved also achieved IOSA Certification – the International Air Transport Association (IATA) benchmark for air safety management in airlines.

The charter airline has now expanded its fleet to an impressive 15 aircraft, with five of them being leased from Genesis.

A Message from the CEOs

Karl Griffin, the CEO of Genesis, expressed his enthusiasm about this partnership, saying, “I am delighted to announce this investment which solidifies the strong partnership formed in 2020 when Genesis agreed to support Heston Aviation Group to establish and launch Heston Airlines.”

“At Genesis, we always believed in the potential for a strong recovery post the unprecedented industry disruption experienced during the Covid-19 pandemic and backed our conviction and teams to challenge convention and win together.”

Jonas Rinkauskas, the CEO of Heston Airlines, also shared his thoughts, stating, “I want to extend my congratulations on the recent investment from Genesis in Heston Airlines. This strengthens our commitment to challenge convention and drive innovation in the aviation industry.”

“I am confident that our solid working relationship will result in even more success down the road as we continue to propel Heston Airlines to new heights.”

About Heston Airlines

Heston Airlines is an established European carrier, headquartered in Vilnius, Lithuania. A member of the Heston Aviation Group, a consolidated group of companies focused on aviation assets leasing, trading, maintenance, repair, and overhaul.

The airline operates Airbus 320, Airbus A321 and Airbus 330 aircraft, providing short- and long-term ACMI and Charter services worldwide.

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By Len Varley - Assistant Editor 4 Min Read
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