In this exclusive interview for News from the aviation industryAleksandr Celiadin, founder of GetJet Aviation Holding, reflects on the origins, challenges and strategic decisions that have brought GetJet Airlines to the top of the ACMI market, while also providing insights into the company’s future growth plans.
GetJet Airlines has been a major player in the ACMI market since 2016. Can you tell us the story and inspiration behind the founding of GetJet Airlines?
I grew up in Vilnius, Lithuania, right next to the airport. My father was an aeronautical engineer and later became technical director at Aurela Airlines. This proximity to the world of aviation sparked my interest at an early age.
My career in aviation began with Aurela Airlines, where I worked as a sales representative alongside my MBA studies. I witnessed the development and bankruptcy of this first private Lithuanian airline and personally worked to keep one of its leased aircraft in the air – an invaluable first-hand challenge that paved my way into aviation.
In 2016, I founded GetJet Airlines based on my seven years of experience and industry knowledge.
What was the biggest challenge for GetJet Airlines during its development and how did you overcome it?
We have overcome difficult times, especially the Covid-19 pandemic, which we successfully survived thanks to strategic planning.
To illustrate the complexity of this operational challenge, we had to reduce our fleet from 25 to around 10 aircraft. We had to transform ourselves overnight from a passenger airline into a cargo airline.
We converted our A330 wide-body aircraft to transport medical supplies and were the first to bring the Covid-19 vaccines to Lithuania, ensuring our relevance and usefulness even in difficult times.
Our ability to adapt quickly has certainly helped us to restart stronger. Today we operate with a fleet size of 15 to 18 aircraft, which we consider to be optimal.
What do you think have been the key factors for GetJet Airlines’ success and what are the basic principles that guide the company’s strategy?
I am very proud of my team and the outstanding successes they have achieved. 2023 was a record profit year for us.
We built GetJet Airlines on two key principles: a world-class team and a straightforward strategy.
I realized early on that as a founder, I wasn’t necessarily the best CEO, so I focused on finding the best managers for the job.
I am proud of our team, which consists of the best in the industry – talented, dedicated people who form the backbone of our high quality service and customer satisfaction.
Strategically, we place great importance on being flexible and responsive, constantly adapting our services and fleet to the changing needs of the market. This clear focus on agility and premium service not only sets us apart from our competitors, but is also the driver of our continued growth and strong financial results.
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From a strategic perspective, why does GetJet Airlines operate both A320/A321 and B737 instead of focusing on a single aircraft type?
At GetJet Airlines, we value Boeing and Airbus equally. As a fully in-house maintained manned aircraft lessor with a variety of aircraft types, we can serve a wider range of customers as different airlines prefer different aircraft types.
This fleet diversity allows us to select the best aircraft for specific customers and markets, making us an attractive employer for a broad range of aviation professionals and enabling us to maintain a strong presence in the market with a wider range of suppliers, lessors and asset managers.
With such a team, we could integrate a space shuttle into our AOC and no one would be surprised!
What competitive advantages does this location offer for GetJet Airlines as a company based in the Baltics?
Our location in Vilnius is more than just a strategic decision – it is a personal one. Even though I now live in Dubai, my roots and a significant part of our business remain in Lithuania. This is where we started.
The most important aspect is the people. We were lucky to build a team for GetJet in Lithuania that has grown along with the company. They are first class – seriously, they are among the best in Europe – and they are the main reason we can provide such a reliable and high quality service.
Our location in Lithuania is a real plus. It’s right in the middle between Eastern and Western Europe, so we can get to almost anywhere quickly and efficiently from here. This central location helps us keep our processes lean and our response times short. Plus, Lithuania isn’t as expensive as many places in Western Europe, so we can do more without spending a fortune.
What challenges is the aviation industry currently facing and how is GetJet Airlines preparing to overcome them?
The aviation industry is currently facing several challenges, including operational disruptions and OEM supply chain issues, which have been exacerbated by the Covid-19 pandemic.
At GetJet, we are proactively addressing these issues by investing in self-sufficiency. This includes training our own crews and improving our fleet maintenance capabilities to reduce dependence on external suppliers. We have already started servicing our own aircraft by renting a hangar at Riga Airport and are continuing to invest in a comprehensive maintenance base in Lithuania.
Financially, we are cautious and strategic, ensuring we manage our resources efficiently. We moved tactically to enter into aircraft leases before market prices soared as viable Covid-related leases expire. This foresight has put us in a strong position and allows us to offer competitive and reliable services to our long-term partners even as other airlines struggle with rising costs and logistical hurdles.
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How does GetJet Airlines differ from other players in a competitive ACMI market?
We are known as the best manned aircraft leasing company. This reputation is built on our ability to quickly mobilize our resources and adapt to the ever-changing trends in the industry.
While large ACMI companies move like freight trains – powerful but on fixed tracks and with slow acceleration – GetJet is like a sports car: it can accelerate quickly and turn nimbly, adapting quickly to the ever-changing conditions of the aviation market.
Our strategy is not to compete on size, but to excel on agility and quality of service. We are obsessed with quality and superior service rather than worrying about size and market share. This focused and disciplined approach allows us to meet our customers’ critical needs quickly and effectively, ensuring that when someone, anywhere, needs a manned narrow-body aircraft, we are there.
GetJet has worked with over 30 renowned industry leaders such as Wizz Air, Transavia, Iceland Air, Vueling, airBaltic and TUI and is always looking for new opportunities. We focus on providing high quality premium services. This approach ensures that our customers receive the best possible service tailored to their specific needs in every geographic location.
What are GetJet Airlines’ main markets?
We focus primarily on the pan-European market, but we also operate in North and South America and parts of Asia. To illustrate this expansion logic, GetJet Airlines Latvia, a smaller sister airline of GetJet Airlines Lithuania, recently received approval of the Federal Aviation Administration (FAA) Part 129 Operating Specification, allowing it to operate in the United States.
We are also exploring opportunities to enter markets where we do not yet have ACMI experience. We recently won customers in Azerbaijan and Uzbekistan and were one of the first ACMI companies in these countries.
Looking ahead, what are GetJet Airlines’ key goals and objectives? Could you elaborate on your vertical expansion plans?
We have ambitious plans for the future. Our main goal is to continue our vertical expansion and improve our value proposition. Key initiatives include setting up our own maintenance facilities, which will allow us to control quality and costs more effectively.
We plan to attract €150 million in external capital over the next few years to diversify our capabilities and aim to reach €1 billion in revenue by 2030. This expansion will make GetJet Holdings a full-service ACMI provider, offering more services such as aircraft asset management, spare parts trading, fleet support, base maintenance and staff training.
Horizontally, we are also focusing on renewing our fleet and ensuring that our aircraft are modern and efficient. We plan to limit the age of our fleet to a maximum of 5-7 years.
We remain committed to innovation in aviation and closely monitor developments to ensure that new initiatives do not remain mere checklist options but bring meaningful change.
More about Aleksandr (Alex) Celiadin…
Celiadin is a serial entrepreneur, best known for founding and developing the premium ACMI airline GetJet Airlines. Alex runs several businesses in the aviation industry and has offices in the UAE, Lithuania, Latvia, Malta and Cyprus. In 2023, GetJet Airlines had an outstanding year of growth, increasing its revenue to over $200 million and its EBITDA to over $30 million.
