On January 30, at the 2024 Airline Economics Growth Frontiers Dublin, George Logothetis, Executive Chairman of Libra Group, shared his insights during a dynamic keynote fireside chat facilitated by José Abramovici, Global Head of the Asset Finance Group at Credit Agricole.

After becoming CEO of his family’s shipping business, Lomar Shipping, at the age of 19, in 2003, at the age of 28, George founded Libra Group, a privately owned international business group. In 2004, deploying insights from shipping, Libra Group entered aviation by founding LCI, today a leading global aviation lessor and one of Libra Group’s 20 operating subsidiaries with assets and operations in nearly 60 countries.

Sharing invaluable lessons of perseverance through market challenges, George discusses the twenty-year evolution of LCI, including how the LCI team navigated crises by framing them as opportunities for growth. He notes that cyclical industries, such as maritime and aerospace, can be “intoxicatingly oxygenated, or alternately toxically poisonous,” an insight which has informed Libra’s growth and diversification across its six sectors—today seen in investments in aerospace, maritime, hospitality, real estate, renewable energy, and diversified investments.

George shares the story of the decision to launch LCI, including negotiating a $100 million deal for LCI’s first three planes on a napkin at the age of 28 with aviation legend Steve Hazy. He also covers LCI taking possession of its first 777-300ER, his visit to the Boeing delivery center, and the decision to purchase 11 Airbus fixed-wing planes worth $1 billion within a 24-hour time frame, as requested by Airbus. George shares lessons on trust and business, discussing SMFL’s recent investment of a 35% stake in LCI.

He also focuses on the innovative mindset seen at LCI and across Libra Group - from orders of electric vertical take-off and landing (eVTOL) vehicles and autonomous cargo drones with zero carbon emissions to deploying eVTOLs across the Group’s 70 Greek hotel properties to advance ecotourism, to investments in carbon capture technology to decarbonize shipping. He also shares the story behind the Group’s landmark launch of SLI – the world’s first dedicated space leasing company.

Noting, “We all have a responsibility,” George discusses the sustainability and social impact initiatives prioritized across the group. He also discusses his visit the day before to Solas Project, a nonprofit that empowers underserved children and communities, alongside LCI’s commitment to mentoring the children supported by the organization.