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GetJet Founder Aims for €1 Billion Revenue by 2030 Through ACMI and Asset Expansion

GetJet Founder Aims for €1 Billion Revenue by 2030 Through ACMI and Asset Expansion
Alex Celiadin, founder and chairman of GetJet Aviation, asserts that the most reliable way to profit from owning airliners is not to operate them directly. However, if flying is necessary, he believes that functioning as a wet lessor—providing aircraft, crew, maintenance, and insurance (ACMI)—is the next best approach. Over the past 11 years, Celiadin has methodically developed GetJet into a highly profitable ACMI and charter operator. The company now targets an ambitious €1 billion ($1.17 billion) in annual revenue by 2030, nearly six times its projected €184 million for 2024.
Strategic Growth and Fleet Expansion
GetJet, headquartered in Lithuania, serves over 50 clients including Wizz Air, Finnair, Icelandair, and Vueling. Central to Celiadin’s growth strategy is a substantial expansion of the company’s charter business, which currently contributes only 15% of total revenues. He envisions GetJet becoming the leading tour operator in the Baltic region within the next few years.
Supporting this growth is an aggressive plan to double the existing fleet of 16 single-aisle Airbus and Boeing jets within five years, focusing exclusively on acquiring used aircraft. The company is also expanding its aircraft trading and third-party maintenance, repair, and overhaul (MRO) operations. A new hangar in Vilnius is scheduled to open in 2028, complementing a recently established facility in Šiauliai. Additionally, GetJet plans to increase dry leasing during the winter months and to part out older aircraft, aiming to balance ACMI revenue with income from asset management activities.
Celiadin highlights several industry factors driving demand for ACMI services, including ongoing delays in new aircraft deliveries, persistent technical issues with Pratt & Whitney GTF and CFM International Leap engines, and economic uncertainty surrounding large capital investments. He emphasizes that operating as an ACMI provider mitigates risk by eliminating passenger liabilities and fuel costs, making it “as close as possible to being in the leasing business.”
Challenges in a Competitive Market
Despite the clear growth trajectory, GetJet faces significant challenges in reaching its €1 billion revenue target. The ACMI and charter market is intensely competitive, with established players such as AirX recently raising €115 million to expand their fleets. Such developments may prompt aggressive pricing strategies and further fleet expansions across the sector, intensifying competition. Investor sentiment remains cautious due to the high capital expenditure required for rapid fleet growth and ACMI operations.
Seasonality presents another major obstacle. Celiadin acknowledges the “enormous” seasonal fluctuations in demand, noting the importance of carefully managing winter losses. GetJet addresses this by operating under three air operator certificates (AOCs) in Lithuania, Latvia, and Malta, and by maintaining minimal off-season flying to keep crews current and operations active. The company’s objective is to “make winter as quick as possible” and avoid the costly and complex process of relocating aircraft to southern hemisphere markets.
Currently, GetJet’s fleet comprises 10 Airbus A320ceos, one A321ceo, and five Boeing 737-800s—aircraft Celiadin describes as “reliable flyers” and “workhorses.” As the company pursues its ambitious expansion, it must navigate operational complexities and a fiercely competitive environment to achieve its €1 billion revenue goal by 2030.

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