Avia Solutions Group reports €12 million profit for 2022

Avia Solutions Group (ASG) has reported a near-doubling of revenue to €1.9bn (US$ 2.06bn) in 2022, leaving it with a profit of €12 million after earnings of €285 million. Over 80% of revenue was generated in western Europe, the Lithuanian company said, with Asia making up 10%, twice as much as North America. The group has four offices in the US, where it generated around €60 million in 2022 and where it sees “great operational potential”. However the company, which says it is the world’s biggest ACMI [aircraft, crew, maintenance and insurance] leasing business, said it lost €14 million after