Avia Solutions Group has entered into a strategic partnership with Certares Management, a US-based investment specialist, with additional investment from Knighthead Capital Management, a US-based investment advisor. Certares and Knighthead, through certain funds and accounts, have provided a €300 million investment to Avia Solutions Group.
The transaction was completed after Avia Solutions Group received all required regulatory approvals in relation to the investment.
Avia Solutions Group intends to use the net proceeds from this offering for strategic acquisitions, capital expenditures and general corporate purposes.
Gediminas Žiemelis, Founder and Chairman of the Board of Directors of Avia Solutions Group, said: "We are excited to officially welcome Certares and Knighthead to Avia Solutions Group. We are certain that this partnership will combine the best operational and investment practices, deep sector expertise, and a wide industry network of two successful market players. The investment is a strong vote of confidence by one of the most renowned and experienced investors in the travel industry. The investment and the partnership as a whole will enable our future growth plans and help further expand our operations across key business segments – positioning us to take full advantage of the next phase of our development plans."
Tom Klein, Managing Director at Certares, said: "Avia Solutions Group, led by a deeply experienced management team, has emerged as a leading player in the aerospace services industry, and we believe that with the support of Certares, Avia Solutions Group can expand its global footprint and further extend its leadership position across several aerospace services sectors. The investment will help enable the next phase of Avia Solutions Group's growth plans in passenger and cargo aviation services, maintenance and engineering, crew training, ground handling and logistics.