As air travel demand returns to pre-pandemic levels, SmartLynx Airlines, a globally acknowledged ACMI (Aircraft, Crew, Maintenance, Insurance), cargo and charter operator achieved a significant milestone in 2024, operating over 68,000 flights – a 43.4% increase compared to the previous year – and carrying more than 10 million passengers in a single year for the first time in its history, marking a 62.5% growth.

"Alongside providing capacity for our clients, SmartLynx prioritized efficiency this year by reviewing fleet resources and implementing changes in our management structure," explained Edvinas Demenius, CEO of SmartLynx Airlines. "Despite maintaining a similar number of aircraft as last year, we significantly increased both the number of flights and passengers carried, a major achievement for our team. We have made various operational changes and are confident we are on the right path to sustain our growth trajectory into 2025."

Cargo operations gained momentum in the second half of 2024, with demand expected to persist in 2025. However, the volume of cargo transported in 2024 saw a slight decline of 6.8% compared to 2023. The rise of e-commerce has become a central focus, driving demand for air freight. Forecasts suggest this segment could grow by nearly 6% next year, fostering continued growth in subsequent years.

Factors driving ACMI demand

In 2024, passenger demand for air travel reached its highest levels, bringing the aviation industry back to pre-pandemic activity. However, challenges such as delays in new aircraft deliveries – often by several years – and significant constraints in the production and supply of spare parts persisted. These issues led airlines to increasingly turn to ACMI providers to bridge capacity gaps. This trend is expected to continue not only in 2025 but also in the years to come.

ACMI market growth in 2024 and beyond

The ACMI sector experienced significant growth in 2024, with the global market estimated to reach a value of €5.57 billion, representing nearly a €1 billion increase compared to the previous year (€4.32 billion). Given current aviation industry conditions and market growth trends, the global ACMI market is projected to grow at an annual rate of 7–9% over the next six years.