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GetJet Aviation Holdings Reports €25.4 Million Net Profit for 2024

GetJet Aviation Holdings Reports €25.4 Million Net Profit for 2024
GetJet Aviation Holdings, a Lithuania-based international aviation services group, has announced a net profit of €25.4 million for the 2024 fiscal year, with total revenues amounting to €184.3 million across its portfolio. The group remains one of the most profitable entities globally within the ACMI (Aircraft, Crew, Maintenance, and Insurance) and aircraft maintenance sectors.
Strategic Expansion and Operational Diversification
The company’s CEO, Darius Viltrakis, described 2024 as a year of strategic consolidation, marked by significant expansion into aviation asset management, maintenance, repair, and overhaul (MRO), and component trading. Alongside these developments, GetJet strengthened its in-house technical capabilities, which Viltrakis credits for the improved financial stability and operational diversification observed throughout the year. This integrated approach has fostered increasing synergies across the group’s various business units.
GetJet Aviation Holdings operates through several key subsidiaries, including GetJet Airlines in Lithuania and its branches in Latvia and Malta, the aviation asset management and maintenance provider Airhub Aviation, and the training center Airhub Training. This vertical integration allows the group to cover all core aviation segments, encompassing ACMI operations, MRO services, component trading, aircraft asset management, and aviation training.
Focus on Technical Autonomy and Growth
Aircraft maintenance remains central to GetJet’s long-term growth strategy. In response to a tightening global MRO market, the company has prioritized technical autonomy to maintain operational efficiency and resilience. Viltrakis emphasized that the establishment of Airhub Aviation in 2023 was a deliberate move to build internal technical capabilities, granting the group greater control over its operational pace. This strategy has preserved both service flexibility and profitability amid increasing maintenance capacity constraints.
Looking ahead, GetJet plans to reinvest profits to further expand its technical self-sufficiency and grow its aircraft fleet. Airhub Aviation currently operates an MRO facility at Siauliai International Airport (SQQ) and intends to open maintenance services to third-party clients in 2025, thereby diversifying the group’s income streams.
In a significant development, GetJet Airlines secured a 40-year lease at Vilnius International Airport in March 2025 to construct a €10 million state-of-the-art maintenance hangar. Scheduled to become operational by 2028, this facility will serve as a strategic engineering hub, enhancing the group’s operational independence and supporting sustainable growth.
Market Challenges and Competitive Positioning
Despite these strong financial results, GetJet faces a competitive and evolving market environment. The aviation sector continues to exhibit cautious sentiment, particularly within the business jet segment, while competitors may respond with strategic or operational adjustments. Broader economic trends and the performance of other industry players, such as Tokyo Steel Manufacturing’s recent net profit decline, could also impact market dynamics and future profitability.
Currently, GetJet operates a fleet of 16 aircraft. Its subsidiary, GetJet Airlines, is noted for its rapid response capabilities, able to deploy a fully crewed aircraft within 90 minutes of a client request—a capability that has earned it the nickname “special forces of aviation.” As the group continues to invest in technical infrastructure and operational flexibility, it aims to sustain its competitive advantage amid shifting industry conditions.

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