Leopardstown based Genesis Aircraft Services, an all-narrowbody lessor headed up by Karl Griffin, has made a minority investment in Heston Airlines. The exact investment amount and stake size have not been disclosed.
The two companies have had a working relationship since February 2021, when Genesis delivered the first aircraft to Heston, enabling the Lithuanian airline to obtain its Air Operator’s Certificate (AOC) in May of that year.
Heston Airlines has surpassed growth expectations and has been supporting the recovery in passenger travel since then.
Heston Airlines currently operates a fleet of 15 aircraft, with five A320-200s leased from Genesis. It also has two A321-200s, three A330-200s, and maintains ACMI contracts with Air Montenegro, Condor, Marabu, SmartLynx Airlines, and Uzbekistan Airways.
Genesis itself has a portfolio of 51 A320 Family and B737 aircraft, which are dry-leased to 26 customers, including Heston Airlines.
