| Type | Publicly traded company |
|---|---|
| Industry | Aviation |
| Founded | 2005 |
| Headquarters | Smolensko st. 10A Vilnius, Lithuania |
| Key people | Gediminas Žiemelis (Chairman of the Board) Vytautas Kaikaris (Board member ) Aurimas Sanikovas (Board Member) Saulius Batavičius (Board Member) Jonas Butautis (Board Member) |
| Services | See services listing |
| Employees | 1000 (2011)[1] |
| Website | Aviasg.com |
Avia Solutions Group (formerly LAL investicijų valdymas and FlyLal Group)[2] is a Lithuanian group of aviation-related companies providing infrastructural solutions for airlines, travel business companies and state institutions. It is the largest group of such kind in the Baltic States and one of the largest in Eastern Europe and CIS. Avia Solutions Group was listed on the Warsaw Stock Exchange in March 2011.
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The history of Avia Solutions Group began in 2005 when Lithuanian Airlines, the national airlines of Lithuania, was privatized. 100% of the airline shares was acquired for 27 million litas by LAL investicijų valdymas.[3] The airline was quickly re-branded as FlyLal and several companies were spun-out, including Baltic Ground Services (ground handling), FL Technics (aviation maintenance, repair, and operations), and Bilietų pardavimo centras (travel agency).
FlyLal, burdened by debt, did not survive the global economic crisis of 2007–2009 and ceased operations effective January 2009. In July 2006, Baltic Ground Services were sold to UAB Finansų spektro investicija.[4] The company was bought back by Avia Solutions from investment company Invalda in November 2008.[5] Baltic Ground Services was the first company in Europe to receive IATA Safety Audit for Ground Operations (ISAGO)[6] certificate.[7] FL Technics added spare parts, components maintenance management and technical training services. FL Technics constructed one of the most modern hangars at Vilnius International Airport, bought required equipment, and achieved Boeing 737 CL and NG base maintenance certificates. Bilietų pardavimo centras soon became a member of IATA and in November 2006 changed its name into BPC Travel (stands for Best Price for Consumers Travel) to better reflect its business philosophy.
In the following years, more business lines were separated from the original FlyLal. In November 2006, Baltic Aviation Academy (originally flyLAL Training) based on the training center of FlyLal. The academy has grown into an FTO (Flight Training Organization) and TRTO (Type Rating Training Organization) providing type rating for 10+ aircraft types and operating full flight simulators. In 2007, the group also established Aviation Asset Management (now AviaAM Leasing) to lease the aircraft to its sister company FlyLal. In June 2008, it signed its first third-party lease contract with Kazakh Scat Air.[8] In 2008, the group separated its charter flights activities from FlyLal and established a charter airline. In July 2010, it underwent a major re-branding and became Small Planet Airlines.[9]
In 2010 [10] Avia Solutions Group established aviation inventory trade e-business platform Locatory.com. [11] Platform is used for searching, selling and buying aircraft spare parts and components, as well as aircraft maintenance services.[12]
Another recent Avia Solutions Group's partly internet-based project is establishment of aviation personnel solutions company AviationCV.com. [13]
In July 2005, it was reported that the company was owned 70% by UAB Fima, 15% by UAB ŽIA valda, and 15% by UAB Garantas.[14] In November 2006, Fima (later reorganized as Indeco) owned 30%, ŽIA valda 45%, and Sanitex 25% of the shares.[15] The group attempted to go public in early 2008,[16] but the global economic crisis delayed the plans until 2011. In 2010, in preparation for the IPO, the group was reorganized – BPC Travel and AviaAM Leasing left the group. When Avia Solutions Group was listed on the Warsaw Stock Exchange in March 2011, it became the first Lithuanian company to be listed on a foreign exchange.[17] After the IPO, the three original shareholders remain majority owners (32.91% for ŽIA valda, 21.94% for Indeco, and 13.19% for Sanitex).[18]
As of August 2011, Avia Solutions Group controls these companies:[19]
Companies that were part of Avia Solutions Group: