With just several businesses five years ago, in 2015 we became as big and diversified as ever – over 20 subsidiaries working in more than a dozen different business areas worldwide. Today, Avia Solutions Group is a rapidly growing group of companies competing with the leading providers in multiple markets. The holding company itself has transformed as well. It has become a solid business platform that creates and develops new aviation and travel-related products and services. For instance, in 2015, we were amongst the pioneers in the European commercial UAV market by launching Laserpas – a UAV operator with its own fleet of unmanned aircraft and high-precision equipment for aerial inspections. The global commercial UAV market is only in the early stage of its highly promising development. However, regardless of multiple challenges, such as regulatory issues, we are confident about its future potential. With this in mind, we also decided to pro-actively present our UAV operator training programs, since qualified and responsible specialists are essential for ensuring safe and smooth growth of the industry. In 2015 we also entered a yet another business sector and launched a brand new tour operator KIDY Tour. It is expected to significantly boost the competition as well as win a solid share in the Lithuanian travel market. But our main focus lies beyond the home region. In 2013, long before the known geopolitical events in Eastern Europe, the Group adopted a 5 year-long strategic development plan directing our main efforts to another world region – Asia. In 2015, our efforts showed first strong results. We signed firm agreements with the leading aviation companies from China, Indonesia, the Philippines, Singapore, Thailand and other countries in the region. Notably, in cooperation with a regional partner we launched a pilot training center in Singapore, welcomed the first airplanes at a maintenance and repair center in Indonesia as well as established a Bangkok-based representative office, backed by the Board of Investment of the Kingdom of Thailand. Moreover, we significantly expanded our fuelling activities by adding 8 new airports to the BGS network. Most importantly, we successfully adapted our aviation experience and safety standards in a non-aviation area by winning a fuel delivery contract with one of the leading Scandinavian gasoline station operators. Our own hands-on experience also allowed us to develop several new IT solutions for airport and ground handling management as well as further improve the already existing spare parts and training management software. Our airport development project – the construction of the 4th Moscow airport – successfully progressed according to schedule regardless of the challenges in the local market. While the local economy suffered from recession, in a short-term perspective the situation allowed us to secure financial savings due to currency fluctuations. In the long run, the airport performance itself won’t have any significant impact on our business and financial results as the Group owns only a minority share in it. But it will remain one of the many platforms for the global development of our main activities, including aircraft MRO and ground handling. And while the closure of several long-standing customers had adversely affected our annual results, the Group’s overall business kept growing and reached record-high revenue of EUR 229,3 million, or 24% more than in 2014. What is more, we have also significantly expanded our customer network and geography – to almost 1400 companies and 95 world countries. A growth that we achieved since 2010 proves that we had chosen the right direction for our strategic development. We are planning to maintain our focus on the long-term goals and continue to explore new markets over the following three years. This will allow us to accumulate the largest possible value for our shareholders, employees, customers, partners and other stakeholders.
A) What is Avia Solutions Group?
Avia Solutions Group AB is a Warsaw Stock Exchange listed company with more than 20 subsidiaries globally providing comprehensive aviation business solutions to industry players worldwide.
Avia Solutions Group AB is the first foreign company listed on Warsaw Stock Exchange in 2011. Shareholders of the company include global players such as Norway’s Government Pension Fund and ING Open Pension Fund managing multibillion portfolios of assets. Shares of Avia Solutions Group AB are listed on the Warsaw Stock Exchange (ticker- AVIASG).
Via the services of our subsidiaries Avia Solutions Group AB acts in Europe, the CIS and Asia-Pacific regions with representative offices in the USA, the United Kingdom, Poland, Lithuania, Russia and Thailand. Company headquarters are situated at Smolensko st. 10, Vilnius, Lithuania.
The Group provides comprehensive solutions in the following areas:
The Airport infrastructure management segment is no longer disclosed. It was reclassified to assets held for sale in the financial statements for the year ended on the 31st of December 2014 and was disposed on the 30th of September 2015. Information about discontinued operations is provided in Notes 33, 34 of the Group’s and the Company’s Financial Statements for the year ended on 31st of December 2015.
B) Business Philosophy
One- stop- shop for the integrated aviation services.
To create value for shareholders and customers by providing professional and high quality aviation related services.
Professionalism – we explore every situation with precision and treat every case uniquely when creating solutions.
Responsibility – we take 100% responsibility for our solutions and services.
Flexibility – we work without any prejudices. That is the major success factor in finding the best way to improve any situation.
C) Main Brands and Services
Aircraft and helicopter maintenance, repair and overhaul (MRO)
Aircraft ground handling and fuelling
Crew Training and Staffing
Private jet charter, flight and tour operations
Airport Infrastructure Management
D) The Group (effective holding of the companies in %)
Avia Solutions Group AB
Aircraft and helicopter maintenance, repair and overhaul (MRO)
Aircraft ground handling and fuelling
Crew Training and Staffing
Private jet charter, flight and tour operations
Airport infrastructure management
A) Key Indicators
B) Operating Figures
C) Important Events
In 2015 Avia Solutions Group AB and its subsidiaries (hereinafter – the Group) generated net loss from continuing operations of EUR 6.9 million (in 2014 generated net loss of EUR 1.5 million). The consolidated net loss from continuing operations incurred primarily due to recognised significant allowances for impairment of trade receivables and inventories. Due to initiated bankruptcy proceeding for one of the biggest Russia’s private airline, the Group recognised EUR 7.7 million allowance for trade receivables. In addition to that the allowance for impairment of inventories, in the total amount of EUR 5.8 million was accounted to represent their net realisable value.
Comparing with 2014 the consolidated revenue from continuing operations has increased up to EUR 229 million, or by 24% as compared with EUR 184 million in 2014.
The major events to the Group’s structure during 2015 were as follows:
Baltic Ground Services UAB becomes a member of IATA’s Ground Handling Council.
Baltic Ground Services UAB enters Radom-Sadków airport with into-plane fuelling services. Baltic Ground Services UAB established a new subsidiary named Baltic Ground Services RU OOO.
Avia Solutions Group AB and its subsidiary BAA Training cooperate with China-based aerospace giant Haite Group in establishing a training base, BAA Singapore. The centre is capable of providing Pilot Type Rating, Cabin Crew and Ground Handling training to Asia, Pacific and MENA markets. Avia Solutions Group AB purchased 90% of the share capital of Laserpas UAB (previously named as Ground Handling CIS UAB) from Baltic Ground Services UAB. Remaining 10% of the share capital was sold to general director of Laserpas UAB.
RAMPORT AERO OOO established a new subsidiary named RAMPORT SECURITY OOO. FL Technics UAB becomes the exclusive representative of major industry suppliers Future Metals and Aviointeriors and SVD-Promtent.
99,983% stakes in Globus Distribution OAO were sold by RAMPORT AERO to a related party.
Jet MS broadens its capabilities in private jet MRO by adding Bombardier Challenger 604/605. Baltic Ground Services UAB launches Airbus A380 training for MRO staff at its new dedicated training facility. Baltic Ground Services UAB established a new subsidiary named Baltic Ground Services EE OU.
Baltic Ground Services UAB purchased 100% of the share capital of Baltic Ground Services UA TOV from Laserpas UAB. Baltic Ground Services UAB launched fuelling services at Tallinn International Airport.
FL Technics UAB receives EASA Part 145 certificate for Sukhoi Superjet 100-95. 50% stakes in Baltic Ground Services UA TOV was sold to a third party. 100% stakes in Avia Solutions Group – Airport Management OOO (Russia) were sold to an associate.
FL Technics UAB adds Sukhoi Superjet 100 to its EASA Part M capabilities. Baltic Ground Services UAB purchased 51% of the share capital of Baltic Ground Services LV SIA from a third party.
FL Technics UAB expands its presence to the US by opening a representative office in Florida, USA. Baltic Ground Services UAB processes 1 million passengers using its own DCS and gets closer to SITA Cute certification.
Avia Solutions Group established a new subsidiary named KIDY Tour UAB. Baltic Ground Services UAB established a new subsidiary named Baltic Ground Services CZ s.r.o.
A) Overall Company Profile by Business Segments
The Group operates in five business segments: aircraft and helicopter maintenance, repair and overhaul (MRO), crew training and staffing, aircraft ground handling and fuelling, business charter operations, unallocated operations and airport infrastructure management.
Avia Solutions Group AB: Sales breakdown by segments in 2009-2015 in %, EUR in millions
Avia Solutions Group AB: Sales geographical segmentation in 2015 in %
B) Aircraft and helicopter maintenance, repair and overhaul (MRO)
Activities in our aircraft and helicopter maintenance, repair and overhaul (MRO) business segment are conducted by FL Technics UAB (FL Technics), Jet Maintenance Solutions UAB (previously FL Technics Jets UAB) (Jet Maintenance Solutions), FL Technics Line OOO (FL Technics Line), Helisota UAB (Helisota), Storm Aviation Limited (Storm Aviation), Storm Aviation (Cyprus) Limited (Storm Aviation Cyprus) and include:
Aircraft and helicopter maintenance, repair and overhaul (MRO) business segment: Sales geographical segmentation in 2015 in %
Base Maintenance Services
FL Technics occupies 3 aircraft maintenance hangars together with administrative, warehouse and back shop facilities in Vilnius International Airport, Kaunas International Airport and newly rented facility in Soekarno-Hatta International Airport, Jakarta – 31,200 sq. meters in total. The hangars are comprised of total 8 airframe maintenance bays with 3 more to come in Jakarta. Utilizing these hangars and the nearby premises FL Technics provides base maintenance services, including aircraft base maintenance checks, structure inspection and repairs, routine maintenance, technical defect rectification, interior refurbishment, minor/major modifications (avionics, airframe), engine replacement, landing gear replacement and non-destructive testing.
FL Technics hangar in Vilnius International Airport, Lithuania
FL Technics hangar in Kaunas International Airport, Lithuania
FL Technics hangar in Soekarno-Hatta International Airport, Jakarta, Indonesia
Line maintenance is defined as maintenance that is carried out before each flight to ensure that the aircraft is airworthy and fit for the intended flight and includes: daily service and weekly checks, unscheduled checks, 24/7 AOG support troubleshooting, defect rectification and minor component replacements. As at 31 December 2015 FL Technics and Storm Aviation collectively operated twenty one line stations (at 31 December 2014 – twenty one line stations).
Current Base Maintenance and Line Maintenance (2015) Stations’ Network
Continuing airworthiness management (engineering)
FL Technics provides comprehensive engineering management services to the aircraft operators, airlines and leasing companies. Basic engineering services provided by FL Technics include aircraft airworthiness review and renewal, engine condition monitoring, aircraft weighting, flight data read-out, monitoring and analysis and ageing aircraft programs.
Spare parts and consumable sales
Spare parts and consumable sales are carried by the Group through FL Technics and FL Technics Line. Avia Solutions Group AB provides comprehensive spare parts management services including planning/provisioning, purchasing, inventory control, asset management, warehousing and distribution of spare parts and consumables. One of the core competences of the Group is expanded own stock of spare parts and components in a number of locations, such London, Moscow, Warsaw, Vilnius. Stock and in-house capabilities are listed in databases such as ILS, Parts Base and Locatory.com. Avia Solutions Group AB has offered online access to a warehouse and possibility of e-purchases to clients. FL Technics provides cost saving programmes for airlines, including engine material management and component repair management, which includes landing gear overhaul. In addition to ad hoc and pool agreements, the power-by-the-hour (PBH) and consumable support products have been introduced for existing and new customers.
Technical training and consulting
FL Technics provides technical training for aviation specialists involved in the maintenance and repair of aircraft, as well as other specialized training programs and consulting services. The training programs, which are drawn up in accordance with the requirements of EASA, cover four main areas – basic maintenance training, aircraft type training, specialized aviation training and other consulting services. FL Technics has developed specialized online training program specifically for aircraft technical professionals worldwide: www.147training.com. Specialized aviation training includes auditors training (theory and practice), wheels and brakes training, avionics components maintenance training, implementing rules – Part M and Part 145 training, human factors training, fuel tank safety training, quality systems training, aviation legislation training, aircraft structure repair training, engineering and planning procedures training, material management and logistics training, escape slides and life preservers maintenance training and engine borescope inspection (CFM56-3) training.
Engine and Components management
FL Technics provides comprehensive engine and component management services aimed at saving its customers’ time and money. Scrap replacement materials are provided during a shop visit. FL Technics also offers a number of alternative options to deal with the engine, landing gear, APU and other components’ problems, including exchange, sale, purchase and lease of an engine or its components.
Defence aircraft component support
FL Technics provides comprehensive spare parts support and overhaul of components for various types of defence aircraft. FL Technics has possibilities to support defence vehicles and tanks with spare parts supply, overhaul and modernization services. Defence Aviation Department is approved NATO and NSPA supplier and has NATO Commercial and Government Entity Code (NCAGE) 0083R and International Traffic in Arms Regulations (ITAR) code and is a trusted service provider of MOD and MOI from 12 countries in Africa, Asia and CIS regions.
Other MRO services
Other MRO services are mainly comprised of non-destructive testing (eddy current, magnetic particle, dye penetrate and ultrasonic) of airframes and components provided by FL Technics and of aircraft parts marketplace services provided by Locatory.com. The company develops and maintains its own trading platform catered specifically to the aircraft spare parts aftermarket while offering proactive customer support and enhancing the industry with effective supply chain management solutions.
Business jet MRO
Business jet MRO operations are carried out by the Group through Jet Maintenance Solutions. The subsidiary is a global provider of tailor-made maintenance, repair and overhaul services for business aviation. Certified as an EASA Part-145 organization, FL Technics Jets serves business aircraft registered in the Russian Federation, Aruba, Bermuda and Cayman Islands. This company is the first service centre in the region authorized to provide warranty support for Tronair’s ground support equipment (GSE). FL Technics Jets provides base maintenance services for Hawker Beechcraft BAe 125 (Hawker Beechcraft 700/750/800/800XP/850XP/900XP), Bombardier CL-600-2B19 (Bombardier CRJ100/200/440, Bombardier Challenger 604/605/850) aircraft type families.
Helisota is an international provider of integrated maintenance, repair and overhaul (MRO) services for rotorcraft aviation. The company is an EASA Part 145 organisation, SAAU (State Aviation Administration of Ukraine) Part 145 organisation and Part 147 organisation as well as an authorized Mil Helicopters and Robinson Helicopters Company service centre. Helisota is also approved by Interstate Aviation Committee (MAK) as Overhaul and Repair station, Ministry of Transport of the Russian Federation and Federal State Unitary Enterprise State Civil Aviation Scientific Research Institute as the company which meets the requirements for providing delivery of aviation technical property as well as a member of Aviation Suppliers Association (ASA-100). Helisota is also approved under AQAP-2120 quality requirements, which allow company to support NATO countries with various services. Based on certificates and years of experience Helisota is able to offer a list of services for various government and private rotorcraft operators worldwide: helicopters MRO, component MRO, spare parts supply, helicopters sales, upgrades and modernisation.
C) Aircraft ground handling and fuelling
Aircraft ground handling and fuelling services are conducted by Subsidiaries of the Company, namely: Baltic Ground Services UAB (Baltic Ground Services LT), Baltic Ground Services Sp.z.o.o. (Baltic Ground Services PL), Baltic Ground Service UA TOV (Baltic Ground Service UA), newly established Baltic Ground Services RU OOO (Baltic Ground Services RU), Baltic Ground Services EE OU (Baltic Ground Services EE) and newly acquired subsidiary in Latvia – Baltic Ground Services LV SIA (Baltic Ground Services LV). The above mentioned companies are jointly referred to as Baltic Ground Services. Baltic Ground Services is a regional group of ground handling companies that provides full range of aircraft ground handling and fuelling services. As of 31st of December 2015, Baltic Ground Services activities were concentrated in major airports of Lithuania, Latvia, Estonia, Poland, Ukraine and Russia. Baltic Ground Services expands its network and continues to develop its activities in aforementioned regions.
Aircraft ground handling and fuelling services: sales geographical segmentation in 2015 in %
Current Airports‘ Network, 2015
D) Crew training and staffing
Crew training and staffing are carried through BAA Training UAB (BAA Training, previously Baltic Aviation Academy UAB) and AviationCV.com UAB (AviationCV.com)..
Certified as the Approved Training Organization (ATO), BAA Training offers Fixed or Rotary wing Ab Initio, Type Rating, Cabin Crew, Ground Handling, Flight Dispatcher and UAV/UAS training solutions. Course completion certificates issued by BAA Training are valid in: EASA countries and Brazil, Egypt, China, Indonesia, Nepal, Ukraine, Israel, Belarus, Malaysia, Bulgaria, Jordan, Kazakhstan, Afghanistan, Saudi Arabia, Vietnam, Russia, Philippines, Cuba, and Nigeria. Headquartered in Vilnius, Lithuania, the academy is providing the custom tailored training solutions wrapped in the personal care and seeks to establish itself as a leading aviation training centre in Central Europe..
BAA Training occupies approx. 3 000 m². Its training centre is divided into Ab Initio school and Type Rating training learning complex with modern auditoriums, rest areas, dining rooms and specialized training facilities equipped with FNPT II (Flight Navigation Procedures Trainer); aircraft fleet of 1 Cessna 172S, 9 Tecnam P2002JF and 2 Tecnam 2006T; Boeing 737-300/400/500 and Airbus 320 Full Flight Simulators (FFS), Real Fire Fighting and Smoke Trainer. In addition to that, in 2015 BAA Training in partnership opened training centre in Singapore – BAA Training Singapore providing Airbus A320, Boeing 737 NG, Cabin Crew and Ground Handling training in Asia.
AviationCV.com is a global provider of aviation specialist resourcing solutions for airlines, MRO providers and other industry players. The company runs a job search portal (www.aviationcv.com) for flight crew members, aircraft engineers and other aviation specialists aimed at meeting short and long term human resource needs of the global aviation industry.
Crew training and staffing segment: Sales geographical segmentation in 2015 in %
Full Flight Simulators‘Network, 2015
E) Private jet charter, flight and tour operations
The Group is involved in private jet charter operations related activities conducted through its subsidiary, KlasJet UAB (previously named Verslo skrydžiai UAB). KlasJet is a charter carrier (EASA AOC holder), specializing in private and corporate flights as well as comprehensive aircraft management solutions. With a fleet of business jets based in Vilnius, Lithuania, as well as other airports across Russian Federation, Eastern Europe and the CIS, KlasJet is perfectly positioned to provide VIP flight services to customers and partners at any place and time. KlasJet offers its customers, aircraft owners, maintenance and refurbishment solutions, CAMO support, crew recruitment and training solutions, spare parts and components supply.
In March 2015 Laserpas UAB (Laserpas) started its operations as an international remotely piloted airborne system operator, engaged in development of state-of-the-art payload control and image processing systems as well as execution of high-precision aerial monitoring. Laserpas services focus on infrastructure surveillance and monitoring.
In December 2015 a new subsidiary KIDY Tour UAB (KIDY Tour) was established which will represent tour operations business segment. The purpose of the company’s activities is to provide its clients with tour operator as well as other related services. The company starts its activities by offering a wide range of holiday tours into Turkish resorts.
According to the Articles of Association of Avia Solutions Group AB, the managing bodies of the Company are General Meeting of Shareholders, the Supervisory Council, the Board and the Head of the Company (the General Director).
The Supervisory Board is responsible for the supervision of activities of the Company and its management bodies. Board is responsible for the strategic management of the Company (including the appointment and removal of the General Director), whereas the General Director manages day-to-day operations of the Company and has the exclusive right to represent the Company in relations with third parties.
A) The Board
Chairman of the Board
Mr. Gediminas Ziemelis has a unique management and advisory experience. He started his career in 1999 as the Assistant Manager of the Vindication and Fraud Division in Lithuania Savings bank, AB (currently, Swedbank, AB), the Department of Problematic Assets and Vindication (1999–2001). He acted as the General Manager of Žvilgsnis iš arčiau UAB (2001–2005) (currently named Creditinfo UAB), which was engaged mainly in debt recovery and credit risk management, the General Manager of ŽIA VALDA AB (2002–2006) and the General Manager of brokerage firm Finhill UAB FMĮ (in 2007). Mr. Gediminas Ziemelis is a Member of the Management Board in ŽIA VALDA AB and since 2007 he acts as the Manager of the Development Department. Since 2005 Mr. Gediminas Ziemelis also acts as the Manager in East Mining Group UAB and from 2006 to 2014 he acted as the General Manager of Eastern Agro Holdings UAB. In the period of 2009-2010 Mr. Gediminas Ziemelis also acted as a consultant in Avia Solutions Group Holdings AB. Moreover, Mr. Gediminas Ziemelis is a member of the Supervisory Board in Agrowill AB since 2010. Mr. Gediminas Ziemelis also acted as a chairman of the Management Board of AviaAM Leasing AB (2012-2014). Mr. Gediminas Ziemelis obtained Bachelor’s degree at the Faculty of Business Management in the Vilnius Gediminas Technical University, Lithuania in 1999 and a Master’s degree at the Faculty of Law in the Mykolas Romeris University, Lithuania in 2006. He has also finished the Program for Leadership Development (PLD) in the Harvard Business School, Boston, MA, U.S. Mr. Gediminas Ziemelis was also one of the initiators of establishment of the Association of Aviation Companies (www.aia.lt) in 2009. Mr. Gediminas Ziemelis was selected twice among the top 40 most talented young industry leaders by Aviation Week & Space Technology. Mr. Gediminas Ziemelis and is a member of the YPO (Young Presidents Organization) organization.
Mr. Aurimas Sanikovas started his career as an Audit Associate in PricewaterhouseCoopers, Lithuania in 2001. In 2007 his last position held at the company was that of a Manager. He performed supervision and execution of audit engagements performed in accordance with the IAS and US GAAS. Mr. Aurimas Sanikovas has principal expertise in telecommunications, IT, manufacturing, construction, consumer products and energy sectors. From 2007 till 2010 he acted as the Chief Financial Officer of Avia Solutions Group Holdings AB. Mr. Aurimas Sanikovas also acted as a member of the Management Board of Avia Asset Management AB (2008–2010), a member of the Management Board of FL Technics (2008–2010) and a member of the Management Board of Small Planet Airlines Sp.z.o.o. and Small Planet Airlines AS (2009–2010). He has also acted as the Interim General Manager of Avia Funds Management UAB (2010-2011). Moreover, since 2010 Mr. Aurimas Sanikovas is a member of the Supervisory Board of Agrowill Group AB. Mr. Aurimas Sanikovas also acts as a Member of the Management Board of AviaAM Leasing AB (since 2012). His main responsibilities at the Group include control of operations of subsidiaries, leading budgeting, reporting, treasury and risk management functions, finance function staffing, fund raising, deal structuring, tax planning and managing resolution of finance related issues. Mr. Aurimas Sanikovas obtained his Bachelor’s and Master’s degrees in Economics at the Faculty of Economics, Vilnius University, Lithuania with an exchange term in the University of Copenhagen. Since 2006 Mr. Aurimas Sanikovas is a fellow of the Association of Chartered Certified Accountants (ACCA). Mr. Aurimas Sanikovas owns 294,478 shares in the AviaAM Leasing AB (0.68% of all the Shares). Apart from holding 60,775 shares of Avia Solutions Group AB (0.78 per cent of all shares) and 294,478 shares in AviaAM Leasing AB (0.68 per cent of all shares) Mr. Aurimas Sanikovas does not participate in the capital of any other legal entities.
Mr. Daumantas Lapinskas has more than 16 years of experience in sectors as diverse as public service (in 2009-2010 was an advisor to the Minister of Economy, Lithuania, served as the Vice Minister of Economy in the 15th Government of Lithuania), banking (more than seven years at the European Bank for Reconstruction and Development, executing monitoring debt, equity and working capital financing projects for the Companies in CEE and CIS), trading and private business. Mr. Daumantas Lapinskas held board positions in the following companies: Invest Lietuva (2010-2012), Enterprise Lithuania (2010-2012), JSC Investicijų Verslo Garantijos (INVEGA) (Chairman of the Board). Mr. Daumantas Lapinskas graduated from Vilnius University where he obtained Bachelor’s degree in Economics (specialization in Finance), and in 1999 he obtained a Master’s degree in International Economics and Finance at the Brandeis University, USA (Edmund S. Muskie Scolarship in Economics). Since 2013 Mr. Daumantas Lapinskas is a Deputy CEO at Avia Solutions Group AB. Apart from holding 8,240 shares of Avia Solutions Group AB (0.11 per cent of all shares), 1,640 shares of Kauno Energija AB (0.00 per cent of all shares) and 9,500 shares of TEO AB (0.00 per cent of all shares), Mr. Daumantas Lapinskas does not have interest in the share capital of any other legal entities.
Mr. Zilvinas Lapinskas has a deep international business expertise. He started his career as sales manager in Rubikon Prodimpeksas. Since 1999, he worked in City Service – OMX listed company, where he held CCO and Head of Facilities Management Department positions prior to becoming CEO in 2004. Mr. Zilvinas Lapinskas took LEAN 6 Sigma Implementation courses as well as Facilities Management course at Dalkia Facility Management, Stocholm, Sweden. Mr. Zilvinas Lapinskas holds a Bachelor’s degree in Business Management. Since November 2013 Mr Zilvinas Lapinskas is CEO at FL Technics AB. Mr. Zilvinas Lapinskas is a direct shareholder of the Company and has 32.960 shares of Avia Solutions Group AB that accounts to almost 0,42 per cent of the share capital. Mr. Zilvinas Lapinskas does not participate in the capital of any other legal entities.
Mr. Anatolij Legenzov started his career in 1996 in Oxford Health Plans, LLC as an IT Support Analyst. He worked for this company for 2 years and since 1998 started his career in Helisota UAB. Prior to becoming General Director in 2013, Mr. Anatolij Legenzov held International Sales Representative, Director International Sales, and Director for Commerce positions. Since 2011 he is a Member of Helisota UAB’s Board. Mr. Anatolij Legenzov studied in Kaunas University of Technology, obtained a Bachelor’s degree in Computer Science from University of Bridgeport and a Master’s degree in Computer Science from Columbia University. In 2001 he obtained an executive MBA at the Vytautas Magnus University. Mr. Anatolij Legenzov is a direct shareholder of the Company and has 73,255 shares of Avia Solutions Group AB that accounts to almost 0.94 per cent of the share capital. Mr. Anatolij Legenzov does not participate in the capital of any other legal entities.
B) Top Management
|LINAS DOVYDENASAvia Solutions Group, CEO||ZILVINAS LAPINSKASFL Technics, CEO||EGLE VAITKEVICIUTEBaltic Aviation Academy, CEO||GYTIS GUMULIAUSKASBaltic Ground Services, CEO|
|DAINIUS MEILUNASLocatory.com, CEO||DARIUS SALUGAFL Technics Jets, CEO||SKAISTE KNYZAITEAviationCV.com, CEO||VITALIJ KAPITONOVKlasjet, CEO|
|ANATOLIJ LEGENZOVHelisota, CEO||TOMAS VAISVILAHead of Management and Development ofAviation Infrastructure, Avia Solutions Group||MANTAS VASKELALaserpas, CEO||MOTIEJUS KIZASSensus.aero, PM|
|GVIDAS AUKSTUOLISKIDY Tour, CEO|
Number of the Group’s employees at the end of the year:
The breakdown of the number of full-time employees by the Group’s companies:
After euro adoption on 1st of January 2015 and according to the Republic of Lithuania Law on redenomination to the euro of the capital and of the nominal value of securities of Public Limited Liability Companies and Private Limited Liability Companies and amendment of the Articles of Association of these Companies, the nominal value of the Company’s shares were automatically converted from 1 LTL per share to 0.29 EUR per share in the Central Securities Depository of Lithuania. On the 31st of December 2015, the share capital of the Company amounts to EUR 2 255 555 and consists of 7 777 777 ordinary registered shares with a nominal value of 0.29 Euro each. All shares carry equal voting rights. All shares are fully paid up.
On the 10th of December 2014, the Company issued additional 1 719 444 ordinary shares. Following the increase of the capital, share premium amounts to EUR 33 133 thousand.
On 3 March 2011 shares of the Company were introduced to trading at Warsaw Stock Exchange (code: AVIASG).
Shareholders, holding more than 5 per cent of the share capital and votes, as on the 31st of December 2015 and 7th of April 2016:
Avia Solutions Group (Lithuania) Smolensko st. 10, LT-03201 Vilnius, Lithuania Tel.: +370 5 252 5500 Fax.: +370 5 252 5501 E-mail: firstname.lastname@example.org
Avia Solutions Group (Russian Federation) 1st Tverskaya-Yamskaja Str., 23, building 1, 4th entrance, 4th floor 125047, Moscow Tel.: +7 495 956 10 06 Fax.: +7 495 956 10 06 E-mail: email@example.com
Avia Solutions Group (United Kingdom) The Diamond Hangar, Long Border Road, Stansted Airport, Essex, CM24 1RE, the United Kingdom Tel.: +44 (0)1279 681330 E-mail: firstname.lastname@example.org
Avia Solutions Group (Poland) Okęcie Business Park – Notus i Zephirus st. Stycznia 17 - 45B, Warsaw, Poland Tel.: +48 22 427 90 92 Fax.: +48 22 427 90 93 E-mail: email@example.com
Avia Solutions Group (Thailand) S184/30 Forum Tower 12A Fl. Ratchadaphisek Road, Huay Khwang, Bangkok 10320, Thailand Tel.: +66 204 75458 E-mail: firstname.lastname@example.org
Avia Solutions Group (Indonesia) PT Avia Technics Dirgantara Gedung Hangar Angkasa Pura II Bandara Soekarno- Hatta Tangerang, Banten 19120, Indonesia Tel.: +62 812 8218 2421 E-mail: email@example.com