Dublin-based all-narrowbody lessor Genesis Aircraft Services has taken “a minority investment” in Heston Airlines (HN, Vilnius), it revealed in a statement without disclosing the sum invested or the size of the stake.
The deal underpins a working relationship between the two that goes back to February 2021 when Genesis delivered the first aircraft to Heston, A320-200 LY-FJI (msn 2157), enabling the Lithuanian ACMI/charter specialist to obtain its Air Operator’s Certificate (AOC) in May of that year. They said at the time that they had “formed an alliance” to get the airline off the ground but were vague about the details.
Since then, Heston Airlines has “exceeded growth expectations, supporting the robust recovery in passenger travel,” Genesis said in the latest statement, dated October 26, confirming the lessor’s “belief in the potential for a strong recovery” after the pandemic.
According to ch-aviation fleets data, Heston Airlines currently operates a fleet of 15 aircraft. Five of its ten A320-200s are under lease from Genesis including the sole aircraft operated by Heston’s Maltese subsidiary Valletta Airlines (HOT, Malta International), which obtained its AOC in February 2023. Two A321-200s and three A330-200 widebodies make up the rest of the Lithuanian carrier’s fleet. Its current ACMI customers include Air Montenegro, Condor, Marabu, SmartLynx Airlines, and Uzbekistan Airways.
Genesis, meanwhile, has a portfolio of fifty-one A320 Family and B737 aircraft dry-leased to 26 customers besides Heston Airlines.
