26 October 2023: Genesis, the Dublin-based aircraft leasing company, has announced a minority investment in Heston Airlines, the Lithuanian based airline that specialises in delivery of ACMI and charter services globally.
Genesis delivered the first A320 aircraft to Heston Airlines in February 2021 enabling the Heston team to obtain their Air Operator’s Certificate in May 2021 which was swiftly followed by revenue operations and two additional Genesis A320’s aircraft leases.
Since then, Heston Airlines has produced a strong performance, exceeding growth expectations and supporting the robust recovery in passenger travel. Heston has achieved IOSA Certification and expanded its fleet to 15 aircraft, with five of them under lease from Genesis.
Karl Griffin, CEO of Genesis commented on the development “I am delighted to announce this investment which solidifies the strong partnership formed in 2020 when Genesis agreed to support Heston Aviation Group to establish and launch Heston Airlines. At Genesis we always believed in the potential for a strong recovery post the unprecedented industry disruption experienced during the Covid-19 Pandemic and backed our conviction and teams to challenge convention and win together”
Jonas Rinkauskas, CEO of Heston Airlines commented “I want to extend my congratulations on the recent investment from Genesis in Heston Airlines. This strengthens commitment to challenge convention and drive innovation in the aviation industry. I am confident that our solid working relationship will result in even more success down the road as we continue to propel Heston Airlines to new heights”.