Avia Solutions' businesses include Lithuanian MRO FL Technics.
The owner of MRO provider FL Technics has enjoyed a healthy rise in sales of support services for the first six months of the year.
Dublin-headquartered Avia Solutions Group reported a 20% rise, to just over €300 million ($321.4 million), in maintenance and training sales to external customers for the six months to June.30.
This was about a third of Avia’s total revenue, which mainly derives from ACMI and wet lease operations.
Support services’ operating profit, meanwhile, was more than €12 million, almost quadruple the amount of the prior-year period.
This included earnings from FL Technics’ maintenance joint ventures in China and, to a lesser extent, Bangladesh.
In late 2018 FL Technics Hong Kong and partners established FL ARI Aircraft Maintenance & Engineering China, which provides aircraft maintenance services in China.
FL Technics has continued to expand its global presence this year. In August it announced plans to build a 17,000 ft.2 hangar in Bali and a 20,000 m2 hangar in the Dominican Republic.
And in January, FL Technics and Canadian line maintenance provider Wright International merged to form new subsidiary FL Technics Canada.
"Our present development objectives are predominantly centered around Latin America, Asia and Australia. By strategically reallocating aircraft to regions characterized by counter-seasonal patterns, we aim to adeptly manage the seasonal decline in demand within Europe during the winter," commented Jonas Janukenas, CEO of Avia Solutions.
In the first half of 2023, 71% of the total revenue for the group came from Europe and 16% came from Asia, with the remainder from the rest of the world.
Related Content
