Avion Express UAB has fulfilled its obligations to creditors almost two years ahead of schedule and has become 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, 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, leased 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.
Prior to the pandemic, Avion Express UAB managed a fleet comprising 14 Airbus A320s and A321s. Coupled with its sister company Avion Express Malta, the collective fleet size exceeded 50 aircraft in recent years. Presently, it stands as one of the premier ACMI airlines globally. In a bid for further growth, during the fourth quarter of 2023, Avion Express initiated the process of securing an air operator’s certificate for its ACMI subsidiary in Brazil. Among its esteemed clientele are airBaltic, Air France-KLM Group airlines, British Airways Group airlines, Lufthansa Group airlines, SunExpress, TUI, VivaAerobus, Wizzair, and several others. The dedicated team at Avion Express comprises over 1,700 aviation experts, diligently catering to the needs of its ACMI customers worldwide.
