Portuguese ACMI/charter specialist euroAtlantic Airways (YU, Lisbon) is shifting its business model away from short-term, ad hoc wet-lease operations towards longer-term ACMI partnerships with airlines, according to CEO Pauls Calitis.

In an interview with Aviation Week, Calitis said that the carrier is inducting two additional A330s as part of a fleet renewal strategy that will eventually replace its B767s. euroAtlantic Airways operates a fleet of six aircraft, comprising one A330-200, three B767-300ERs and two B777-200ERs.

The airline aims to double its fleet to around 12 aircraft within three years through what it describes as “smart and controlled growth”, focusing on midlife aircraft and potentially adding B777-300s in the future.

While charter and last-minute ACMI work will remain part of the business, the company increasingly wants to secure strategic, long-term agreements with airlines seeking capacity flexibility amid aircraft delivery delays, pilot shortages, or market expansion opportunities.

Calitis also noted that the widebody ACMI market remains structurally healthier than the increasingly oversupplied narrowbody ACMI sector, and said that fuel price volatility is having a limited direct impact on euroAtlantic because customers typically bear fuel and other operating costs.