Avion Express, one of the largest ACMI (Aircraft, Crew, Maintenance, and Insurance) operators globally, has successfully completed corporate restructuring process initiated in 2021 due to the impact of the Covid-19 pandemic.
Avion Express UAB fulfilled its obligations to creditors almost two years ahead of schedule and became the first airline in Lithuania to successfully complete its corporate restructuring process. During this process, the company not only ensured the continuity of its operations, but also grew its business.
"The restrictions on air travel during the Covid-19 pandemic disrupted the entire aviation industry. To fulfil obligations to our creditors and to ensure the continuity of our business, during 2021 we launched a financial restructuring process. Since initiating the process, we have consistently met our commitments to our creditors and partners, while successfully growing our business, which helped us to complete the restructuring process ahead of schedule," said Darius Kajokas, the CEO of Avion Express.
Darius Kajokas credits the successful restructuring and the company's growth during this period to the swift recovery of the air travel market and the flexibility of Avion Express' business model:
“Post-pandemic, passenger traffic rebounded rapidly, with commercial airlines racing against time to re-establish their operations. This led to a surge in demand for ACMI services, whereby airlines, our customers, lease aircraft together with crew, maintenance, and insurance. Agility and responsiveness enabled us to offer prompt solutions for other airlines to resume their services to passengers globally,” Kajokas elaborated on the company’s expansion during the restructuring phase.
Avion Express UAB, which operated a fleet of 14 Airbus A320s and A321s before the pandemic, together with its sister company Avion Express Malta, has operated a fleet of over 50 aircraft in recent years. Currently, it is one of the world's largest ACMI airlines. As part of its further expansion, during Q4 2023 Avion Express has started the process of obtaining an Air Operator's Certificate for its ACMI subsidiary in Brazil. Avion Express' clients include airBaltic, Air France-KLM Group airlines, British Airways Group airlines, Lufthansa Group airlines, SunExpress, TUI, VivaAerobus, Wizzair and many others. Team of Avion Express currently consists of more than 1,700 aviation professionals, who are serving its ACMI customers worldwide.
