Avion Express Triumphs Over Challenges with Early Restructuring Completion
Lithuania’s Avion Express has marked a significant milestone in its journey through and beyond the pandemic-induced aviation crisis by concluding its business restructuring process ahead of schedule. Initiated in late 2020 as a strategic response to the adverse effects of Covid-19, the airline embarked on a Chapter 11-type financial restructuring while maintaining its operational tempo. This achievement not only underscores the resilience and strategic planning of Avion Express but also establishes it as the first Lithuania-based carrier to navigate through a restructuring process successfully.
Under the leadership of CEO Darius Kajokas, Avion Express has not only weathered the storm but also seized the opportunity to expand during the restructuring period. This strategic pivot has positioned Avion Express, an ACMI (Aircraft, Crew, Maintenance, and Insurance) specialist owned by Avia Solutions Group, for growth in the post-pandemic era. The airline’s current fleet comprises twelve A320-200s, serving primarily for Norwegian Air Sweden, with its subsidiary, Avion Express Malta, operating an additional fleet, thereby capitalizing on the burgeoning demand for ACMI services.
The resurgence of passenger traffic post-pandemic has led to a heightened demand for ACMI services, as airlines rush to scale up operations to meet the travel resurgence. Avion Express, with its robust ACMI model, has been at the forefront, catering to the urgent needs of airlines to lease aircraft complete with crew, maintenance, and insurance. CEO Darius Kajokas’s optimism for a bumper 2023 summer season and plans to augment the fleet further underscore the airline’s proactive stance in capitalizing on the industry’s recovery momentum.
Avion Express’s early fulfillment of its obligations to creditors and its strategic expansion underscore a successful turnaround, highlighting the airline’s resilience and strategic foresight in navigating through unprecedented challenges and positioning itself for growth in the dynamic aviation landscape.