BAA Training secures UKEF funding; names new CEO

Independent aviation training company, BAA Training, has confirmed financing for its global expansion provided by UK Export Finance (UKEF) and US Apple Bank for Savings. Two companies belonging to Avia Solutions Group (ASG) - BAA Training and ASG Asset Management - were involved in signing the agreements with the financial institutions.

The €31 million worth deal is one of the most significant agreements for the Lithuania-based company throughout its existence. It will facilitate the acquisition of 10 new simulators used for aviation training manufactured by L3Harris Technologies: Two Boeing 737 MAX full flight simulators (FFSs) and eight fixed base training devices (FTD Level 2) – Airbus A320 and Boeing 737 family.

The training simulators will be installed at BAA Training’s brand new facility in Barcelona – BAA Training Spain – the biggest simulator centre in Southern Europe.

Commenting on the large-scale deal, Jonas Janukenas, CEO at Avia Solutions Group, stated: “Signing such a financing agreement as this one during the global crisis affecting the entire aviation industry is out of the ordinary. It emphasizes the trust and confidence put into BAA Training that strengthens its position on the global stage.”

The Apple Bank for Savings financing arrangements were arranged by AirFinance. The loans are underwritten with a guarantee from UKEF, the UK’s Export Credit Agency (ECA), consolidating confidence in both BAA Training’s and Avia Solutions Group’s image in the global arena. This move will also ensure that the company’s strategic international development plans across Europe and Asia can be realized, giving it a competitive advantage over other businesses.

Vedder Price, led by its Partner Dylan Potter, represented both UKEF and Apple Bank for Savings as outside counsel in the financing arrangements. Reed Smith, led by partner Christopher Jackson, provided the majority of the legal support to BAA Training, which was also aided by advocate Ronaldas Kontautas and the team from Lithuania.

Andrew Woolfson, Partner at AirFinance, “Simulator-based training represents an important part of the aviation industry. AirFinance and Apple Bank for Savings are delighted to support BAA Training, a company with a long-term vision of growth in this sector, in this, and hopefully many more future transactions.“

Meanwhile, BAA Training has confirmed Marijus Ravoitis as a new CEO of the company, who will supervise all its business operations globally. Egle Vaitkeviciute steps away as a CEO and progresses her career taking a more advanced role as a Strategic Advisor for BAA Training. The transition comes into force on August 3, 2021.