On the Record with Andres Restrepo, Interim CEO, Avenger Flight Group
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This September 9 Avenger Flight Group (AFG) announced leadership changes as part of its strategic growth plan. Pedro Sors, who served as the company’s CEO transitioned to the role of Strategic Advisor. AFG’s Board of Directors named Andres Restrepo as Interim CEO, effective immediately. Restrepo spoke with CAT the week of November 4 about the Fort Lauderdale, Florida-based flight training services provider’s programs and activities.
Restrepo first reflected on AFG’s business activities since the end of the pandemic and candidly noted, “We capitalized on the industry’s resurgence, expanding rapidly to meet the increased demand for flight training. Now, with the current market downturn, we’re strategically aligning our resources to match the latest industry trends.” Also on the interim CEO’s mind have been the current ripple effects of Boeing’s delivery delays, the grounding of about 650 A320neo-family jets to complete Pratt & Whitney engine inspections and other developments on the demand signal for new pilots. While AFG is expected to weather this minor downturn in training demand, the industry veteran added, “We’re well-equipped to navigate this transitional phase, and we believe our sector is resilient, though it may reshape the market landscape.”
The interim CEO emphasized AFG remains the largest privately-owned training company in the world in terms of simulator capacity – with a fleet of about 55 FFFs in six countries. “We’re not small anymore." Size aside, Restrepo, significantly added, "Our focus now is on optimizing our current resources. While we’re pausing on new acquisitions and expansions, we’re reinforcing what we’ve built.” Beyond those markers, AFG plans to increase usage of its center network through partnerships. "If a flight school, competitor, or airline seeks simulator space at our locations, we’re ready to collaborate. That’s our approach to meeting market demand and maximizing capacity."
Partnerships
While the industry veteran noted the industry will “bounce back,” he expects that uptick to begin happening in 12-18 months. “So, in that time we will grow through partnerships. Once the industry comes back and the revenues support the operation, we’ll go back to our original plan to grow – purchasing new simulators, getting new contracts from airlines and other actions.”
Current partners housing their simulators and receiving maintenance at AFG facilities include: Envoy Air (at the Dallas site); Omega Air Refueling (at the Las Vegas facility); and 10 Tanker (also in Dallas).
