Avia Solutions Group

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Avia Solutions Group
Company typePrivate company
IndustryAviation, tourism
Founded2010 [1]
Headquarters Dublin, Ireland
Key people
 Gediminas Ziemelis (chairman of the board)
Jonas Janukenas (CEO and member of the board)
Pascal Picano (member of the board)
Zilvinas Lapinskas (member of the board)
Linas Dovydenas (member of the board)
Tom Klein (member of the board)
Revenue€1.853 billion (2022) [2]
€162 million (2022) [2]
Number of employees
11 000+ (2023)
Rating Fitch Ratings – BB
S&P Global Ratings – BB-
Website www.aviasg.com

Avia Solutions Group is a provider for passenger and cargo airlines worldwide. [3] Headquartered in Dublin (Ireland), [4] the group manages over 100 offices and production facilities globally and employs a majority of its employees in Europe. [5] As of January 2024, Avia Solutions Group manages a fleet of 200 aircraft among the group companies. [6]

Contents

In 2022, the group’s revenue reached €1,9 billion and EBITDA at €288 million. [7]

History

Prehistory

In 2005, the history of Avia Solutions Group began when Lithuanian Airlines, the national airlines of Lithuania, was privatized. LAL investment management acquired 100% of the airline shares for 7.53 million Euro. The airline was re-branded and several companies were registered, including Baltic Ground Services (ground handling), [8] FL Technics (aviation maintenance, repair, and operations), and Bilietų Pardavimo Centras (travel agency). In 2005, FL Technics was founded. [9] The company opened its first hangar at Vilnius International Airport. In November 2006, Baltic Aviation Academy (now known as BAA Training) was founded. The company provides professional training for aviation specialists. [10] In 2007, JetMS was founded under the name FL Technics Jets. [11] In 2007, Aviation Asset Management was founded (now known as AviaAM Leasing [12] ). [13] In 2008, a charter airline called Small Planet Airlines was founded. [14]

Foundation

The history of Avia Solutions Group began in 2005, when Lithuanian Airlines, the national airlines of Lithuania, was privatized. LAL investicijų valdymas (LAL Investment Management) [15] acquired 100% of the airline shares for €7.53 mln .The airline was re-branded as FlyLAL and several companies were spun – out, including Baltic Ground Services [16] (ground handling), FL Technics (aviation maintenance, repair, and operations), and Bilietų Pardavimo Centras (travel agency). In 2008, FlyLAL filed a lawsuit against Latvian carrier airBaltic, accusing airline of price dumping. In 2009, FlyLAL was forced to declare bankruptcy with around 29 million euros in debts after the government refused to bail the company out and a potential buyout deal failed. [17] In 2014, Court of Justice of the European Union allowed to arrest the property of airBaltic and Riga International Airport in order to ensure main proceedings, seeking compensation for damages from alleged infringements of European Union competition law in the FlyLAL lawsuit against airBaltic for price dumping. [18]

Structure

As of 2022, Avia Solutions Group controls the following companies: AeroTime Hub, AviaAM Leasing, Avion Express, BAA Training, BGS, Bluebird Nordic, Chapman Freeborn, FL Technics, KlasJet, JETMS, SmartLynx Airlines, and Storm Aviation. [19]

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References

  1. ↑ "Avia Solutions Group – Founded". Registru centras. 12 August 2010. Retrieved 24 March 2015.
  2. 1 2 "Independent Auditor's Report" (PDF).
  3. ↑ "Avia Solutions Group – Global Aviation Multi-Service Provider". aviasg.com. Retrieved 21 July 2022.
  4. ↑ "Pagrindinė "Avia Solutions Group" būstinė perkelta į Airiją". lrt.lt (in Lithuanian). 1 March 2023. Retrieved 1 March 2023.
  5. ↑ Sergijenko, Dina. "Naujoje "Avia Solutions Group" būstinėje Vilniuje – 1.000 darbo vietų". vz.lt (in Lithuanian). Retrieved 12 November 2019.
  6. ↑ "Dublin-based Avia Solutions Group has acquired Australian airline Skytrans". Independent.ie. 23 January 2024. Retrieved 25 January 2024.
  7. ↑ Lithuania, Rekvizitai lt. "AVIA SOLUTIONS GROUP ASG PLC". Rekvizitai.lt Lithuania. Retrieved 2 October 2023.
  8. ↑ "Competition Council of the Republic of Lithuania". 2 April 2015. Archived from the original on 2 April 2015. Retrieved 14 November 2019.
  9. ↑ Rekvizitai.lt. "FL Technics". Rekvizitai.lt. Retrieved 14 November 2019.
  10. ↑ Rekvizitai.lt. "BAA Training". Rekvizitai.lt. Retrieved 14 November 2019.
  11. ↑ Rekvizitai.lt. "Jet Maintenance Solutions". Rekvizitai.lt. Retrieved 14 November 2019.
  12. ↑ ""Aviation Asset Management" planuoja plėtrą ir keičia pavadinimą". DELFI. Retrieved 14 November 2019.
  13. ↑ ""Aviation assets management" perka lėktuvus už 83 mln. litų". tv3.lt. Retrieved 14 November 2019.
  14. ↑ Rekvizitai.lt. "Small Planet Airlines UAB". Rekvizitai.lt. Retrieved 14 November 2019.
  15. ↑ Privatisation of state-owned enterprises in Lithuania
  16. ↑ The competition council authorised the concentration deal by FlyLAL Group services subject to conditions Archived April 2, 2015, at the Wayback Machine
  17. ↑ FlyLAL bankrupt, minister demands investigation
  18. ↑ "62013CJ0302". eur-lex.europa.eu. Retrieved 12 August 2021.
  19. ↑ "Condensed Consolidated Interim Financial Information" (PDF). Avia Solutions. Retrieved 25 January 2024.
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