Just a few short years ago, Avia Solutions Group was at best a regional leader of Aviation related solutions. Today, Avia Solutions Group proudly proclaims the title of a global provider in an ever-expanding range of industries. With operations in a vast range of fields; Avia Solutions group’s success is based on the ability to change and adapt. We have continued to build our company for the long term while increasing speed and efficiency to adapt to the changes around us.
In 2017, we continued on our path of sustained growth and began a great deal of new and exciting projects. This year was a very positive year for the group as a whole.
In line with our goals of becoming a more globalized company, we have extended our reached on multiple fronts. In 2017, BSG expanded its fueling and ADR transportation into Estonia, Russia, and the Czech Republic. FL Technics opened line stations in Riga (RIX), Latvia; Nuremberg (NUE), Germany; Valencia (VLC), Spain and welcomed its first base maintenance clients in Jakarta, Indonesia. FL Technics also expanded its training locations to the UK, Cyprus, Slovakia, Luxemburg, Slovenia, Seychelles, and Ireland which brings it to a total of 57 training locations worldwide.
For Avia Solutions Group to become a worldwide leader expansion is important in every field we in which we operate. Every step we take into a new market or region is a huge asset to the Avia Solutions Group portfolio. In 2017, KIDY Tour moved into the Latvian market. While Laserpas carved out a specific niche for itself by focusing on providing aerial inspections of power grids. This specialization helped Laserpas expand its reach and complete a project in Romania. BAA Training was also on the move this year. They opened a new base for the Middle Eastern region in Sharjah, UAE and received approval for Embraer E190 Type Rating in Tanzania. Jet MS received approval from the Nigerian Authorities to begin providing services in Nigeria. Furthermore, BGS also broadened its reach by establishing a new company in Germany: Baltic Ground Services DE GmbH.
At Avia Solutions Group, we know the value of a good partnership and began many new partnerships in the 2017 year. Helisota collaborated with The Cobham Helicopter Academy to begin training maintenance personnel. FL Technics took on Germanwings and Swiss International Air Lines as clients, while FL Technics Indonesia signed its first deal with Tri-M.G. BAA Training signed a deal with the Pan Am International Flight Training Center in Thailand, and Locatory.com expanded in the Asian by partnering with HNA Technic.
As part of our five-year plan, Avia Solutions has been putting more effort toward moving into the Asian markets. Jet MS made its first sale in China, and FL Technics became on authorized representative for Commsoft in the Asia Pacific, MENA, and CIS regions.
The Group also made great strides in widening the range of products and services that we provide around the world. JET MS received new certificates that will allow them to work on a wider range of aircraft and Klasjet introduced a Boeing 737-500 corporate jet to its fleet.
If you want to be a top competitor in any industry today, IT advancement is a must. This year we have focused a significant amount of time and effort implementing our intranet across the board and expect to have all employees connected in the very near future. AviationCV has also made great strides this year and even became the largest aviation job portal in the world. AviationCV also increased its database and monthly traffic significantly this year and sees the promise of even better results in the coming year. Locatory.com introduced secure online payments for aircraft part procurment and has been able to boast of record sales and growth for this year.
Our ever-growing team of unparalleled talent is the backbone of the company, and our accomplishments are only possible due to the almost 2,500 qualified employees that support us from all around the globe. We know emphasis on the development and cultivation of our team’s skills will be what takes us to the next level, so during this year, we put a lot of time and effort into providing continual training for a large number of employees in almost every field in which we operate.
Avia Solution Group has also worked hard to ensure that the company’s development is in line with the vision of all of our major shareholders. It is of the utmost importance to us that Avia Solutions Group is a company of choice on a global level. With the strategic re-investment of profit, we look to attract new financial partners and become the go-to name in global aviation.
The 2017 year proved yet again that Avia Solutions Group is a top contender in the global market. With a 14% increase in revenue for the group (year-to-year) and nearly across the board increases in the number of services provided we consider this year to be quiet a success and we have our eyes set on excelling in future endeavors. We have found our strengths in the market and anticipate building an even brighter future for Avia Solutions Group.
A) What is Avia Solutions Group?
Avia Solutions Group AB is an international, publicly traded aviation holding company with over 20 subsidiaries worldwide. Headquartered in Vilnius, Lithuania; the Group has representative offices in the USA, the UK, Poland, Serbia, Estonia, Russia, Thailand, and Indonesia.
In 2011, Avia Solutions Group AB was the first foreign company to be listed on the Warsaw Stock Exchange. Shareholders of the company include global players such as Norway’s Government Pension Fund and ING Open Pension Fund who manages billions of asset portfolios. Avia Solutions Group AB’s shares are listed on the Warsaw Stock Exchange (ticker- AVIASG).
For management purposes, the Group is organized into business units based on the services provided, and has five reportable operating segments:
The Group unites a team of almost 2,500 professionals working and living across 40 countries worldwide. Both the company and its team are active members of various local communities, providing extended support to sport, culture, environment, and health-related organizations or groups.
B) Business Philosophy
To be amongst top market leaders in relevant business segments, as well as be a partner of choice for customers worldwide.
Creating value for shareholders, customers, employees, and society by providing professional, 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.
A) Key Indicators
B) Operating Figures
C) Important Events
In 2017 Avia Solutions Group AB and its subsidiaries (hereinafter – the Group) generated a net profit of EUR 5 million (in 2016 - EUR 8 million). Comparing with 2016 the consolidated revenue from continuing operations has increased up to EUR 349 million, or by 14% as compared with EUR 306 million.
The major events to the Group’s structure during the year 2017 were as follows:
Private Jet Charter and Flight and Tour Operations
Avia Solutions Group AB established a new subsidiary named KIDY Tour OOO, where it holds 100 percent of shareholding.
Aircraft and Helicopter Maintenance, Repair and Overhaul (MRO)
Storm Aviation Ltd. established a new subsidiary named Storm Aviation (Germany) GmbH, where it holds 100 percent of the shareholding
Private Jet Charter and Flight and Tour Operations.
Avia Solutions Group AB sold 100% of the share capital of KlasJet UAB to subsidiary Jet Maintenance Solutions UAB.
Aircraft and Helicopter Maintenance, Repair and Overhaul (MRO).
Avia Solutions Group AB acquired 99.99885% of the share capital of FL Technics Ulyanovsk from subsidiaries FL Technics Line OOO and FL Trading House UAB.
Aircraft Ground Handling and Fuelling. BGS Trans (Ukraine) LLC was established by the Baltic Ground Services UAB. Registered capital is UAH 149 100; Baltic Ground Services UAB fully paid for share capital.
Private Jet Charter and Flight and Tour Operations Avia Solutions Group AB sold 50% of the share capital of Laserpas UAB. European Union based investor acquired 500 000 newly issued ordinary registered shares of Laserpas UAB (50 per cent of the total registered share capital) for the total issue price of EUR 2 609 thousand. The Group retains the control in Laserpas UAB.
Private Jet Charter and Flight and Tour Operations KIDY Tour SIA was established by Avia Solutions Group AB. Registered capital EUR 10 000, Avia Solutions Group AB fully paid for share capital.
Crew Training and Staffing BAA Simulators UAB was established by BAA Training UAB. Registered capital EUR 10 000, BAA Training UAB fully paid for share capital.
Aircraft and Helicopter Maintenance, Repair and Overhaul (MRO) FL Technics UAB additionally acquired 24% of the share capital of Avia Technics Dirgantara PT. from the third party. The investment for shares amounted to USD 374 400 (equivalent to EUR 318 thousand).
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 fueling; private jet charter and flight and tour operations; and unallocated operations.
Avia Solutions Group AB: Sales breakdown by segments in 2011-2017 in %, EUR in millions
Avia Solutions Group AB: Sales geographical segmentation in 2017 in %
B) Aircraft and helicopter maintenance, repair and overhaul (MRO)
Activities in our MRO business segment are conducted by FL Technics UAB (FL Technics), Jet Maintenance Solutions UAB (Jet Maintenance Solutions), FL Technics Line OOO (FL Technics Line), Locatory.com AB (Locatory.com), Helisota UAB (Helisota), Storm Aviation Limited (Storm Aviation), Storm Aviation (Cyprus) Limited (Storm Aviation Cyprus), Storm Aviation (Nigeria) Limited (Storm Aviation Nigeria), Avia Technics Dirgantara PT., and FL Technics Asia Co. Ltd and includes:
Aircraft and helicopter maintenance, repair, and overhaul (MRO) business segment: Sales geographical segmentation in 2017 in %
Base Maintenance Services
FL Technics occupies 3 aircraft maintenance hangars and has administrative, warehouse, and back shop facilities in the Vilnius International Airport, the Kaunas International Airport, and the Soekarno - Hatta International Airport in Jakarta – 31,200 sq. meters in total. The hangars are comprised of total 8 airframe maintenance bays with 3 more in Jakarta. Utilizing these hangars and nearby premises, FL Technics provides base maintenance services including: aircraft base maintenance checks, structure inspection and structure repairs, routine maintenance, technical defect rectification, interior refurbishment, minor/major modifications (avionics, airframe), engine replacement, landing gear replacement, and non-destructive testing.
FL Technics’s hangar at the Vilnius International Airport, Lithuania
FL Technics’s hangar at the Kaunas International Airport, Lithuania
FL Technics’s hangar at the Soekarno-Hatta International Airport in 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 of 31 December 2017 FL Technics, Storm Aviation, Storm Aviation (Cyprus), Storm Aviation Germany, and Storm Aviation (Nigeria) collectively operated thirty-five line stations (at 31 December 2016 – twenty-seven line stations).
Current Base Maintenance and Line Maintenance (2017) Station Network
Continuing airworthiness management (engineering) services
FL Technics provides comprehensive engineering management services to aircraft operators, airlines, and leasing companies. Basic engineering services provided by FL Technics include: aircraft airworthiness review and renewals, engine condition monitoring, aircraft weighing, flight data read-out, monitoring and analysis, and aging aircraft programs.
Spare parts and consumable sales
Spare parts and consumable sales are carried out by the Group through FL Technics and FL Technics Line. The Group provides comprehensive spare part management services including: planning/provisioning, purchasing, inventory control, asset management, warehousing, and distribution of spare parts and consumables. One of the core competencies of the Group is expanding its own stock of spare parts and components in a number of locations, such as London, Vilnius, and Moscow. Stock and in-house capabilities are listed in databases such as ILS, Parts Base, and Locatory.com.
FL Technics provides cost-saving programs for airlines and component repair management. In addition to ad hoc and pool agreements, FL Technics provides new and existing customers with power-by-the-hour (PBH), Consumable Support products, full wheels and brakes programs, pools of W&B assets, repairs, and logistics.
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 a 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 services
FL Technics provides comprehensive engine and component management services aimed at saving its customers’ time and money. Scrap replacement materials are provided during shop visits. FL Technics also offers a number of alternative options to deal with the engine, landing gear, APU and other component problems, including exchange, sale, purchase, and lease of an engine or other components.
Defense aircraft component support
FL Technics provides comprehensive spare part support and overhaul of components for various types of defense aircraft. It has the possibility to support defense vehicles with a supply of spare parts, overhaul, and modernization services.
Other MRO services
Other MRO services are mainly comprised of the non-destructive testing (eddy current, magnetic particle, dye penetrate, and ultrasonic) of airframes and components services provided by FL Technics, and of aircraft parts marketplace services provided by Locatory.com. Locatory.com develops and maintains its own trading platform catered specifically to the aircraft spare part aftermarket while offering proactive customer support and enhancing the industry with effective supply chain management solutions. Locatory.com developed Sensus MRO, a web-based ERP solution for the MRO industry, which easily integrates with other software services and ensures connectivity.
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, Jet Maintenance Solutions serves business aircraft registered in the Russian Federation, Belarus, Turkmenistan, Kazakhstan, Ukraine, Lebanon, Nigeria, Aruba, Bermuda, and the Cayman Islands. This company was the first service center in the region authorized to provide warranty support for Tronair’s ground support equipment (GSE) and is appointed by Rockwell Collins as an Authorized Business and Regional Systems (BRS) Dealer. Jet Maintenance Solutions provides base maintenance services for Hawker Beechcraft BAe 125 (Hawker Beechcraft 700 / 750 / 800 / 800XP / 850XP / 900XP), Bombardier CL-600-2B19 (Bombardier CRJ100/200 and Bombardier Challenger 850), CL-600-2B16 (Bombardier Challenger 604/605), and Bombardier BD-700 (Bombardier Global 5000/6000) 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 maintenance organization for Robinson and Airbus Helicopters, Part 145 organization and Part 147 organization as well as an authorized Robinson Helicopters Company service center. Helisota is also approved by Interstate Aviation Committee (MAK) as an Overhaul and Repair station and holds GosNII GA and ASA100 approvals for the supply of aviation spares. Furthermore, Helisota is approved under the quality management system ISO 9001, AQAP-2120 quality requirements. 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 modernization.
C) Aircraft ground handling and fuelling
Aircraft ground handling and fueling 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), Baltic Ground Services RU OOO (Baltic Ground Services RU), Baltic Ground Services EE OÜ (Baltic Ground Services EE), Baltic Ground Services CZ s.r.o. (Baltic Ground Services CZ), and Baltic Ground Services LV SIA (Baltic Ground Services LV).
The companies mentioned above are jointly referred to as Baltic Ground Services. Baltic Ground Services is a regional group of ground handling companies, which provide a full range of aircraft ground handling and fueling services. Beginning in 2017 , Baltic Ground Services activities were concentrated in the main airports of Lithuania, Latvia, Estonia, Poland, Ukraine, and Russia. In the first half of the year, Baltic Ground Services started its activities in the Czech Republic. Baltic Ground Services is expanding its network and continues to develop its activities in the aforementioned regions.
Aircraft ground handling and fueling services: sales geographical segmentation in 2017 in %
2017 Airport Network
D) Crew training and staffing
Crew training and staffing operations are carried out through BAA Training UAB (BAA Training) and AviationCV.com UAB (AviationCV.com).
As a certified 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 including online training courses. Headquartered in Vilnius, Lithuania; the academy provides custom training solutions combined with personal care and seeks to establish itself as a globally recognized aviation training center.
BAA Training occupies approximately 3,000 sq. meters. Its training center is divided into Ab Initio school and Type Rating training learning complexes with modern auditoriums, rest areas, dining rooms, and specialized training facilities equipped with FNPT II (Flight Navigation Procedures Trainer); A320 FTD (Flight Training Device); Boeing 737-300/400/500 and Airbus 320 Full Flight Simulators (FFS); Real Fire Fighting and Smoke Trainer; and an aircraft fleet of 1 Cessna 172S, 9 Tecnam P2002JF, and 2 Tecnam 2006T. The fleet of BAA Training is located at the S. Dariaus and S. Gireno, Istra, and Kyviskes aerodromes . Investments also were made so that a new flight base in Southern Europe could be introduced next year for ensuring year-round flight training for all airline cadets. The Ab initio department signed partnership contracts with 3 different airlines for Cadet Pilot programmes last year.
BAA Training offers training solutions for 15 types of aircraft on 86 Full Flight Simulators at 30 locations in Europe, North and South Americas, Africa, and Asia. Furthermore, actions were made in 2017 for a new training center to be established in Vietnam during the beginning of 2018. An agreement with CAE was signed to purchase 3 new simulators. Two simulators, an Airbus A320 and a Boeing 737NG, will be placed in Vilnius, Lithuania next year and one simulator, an Airbus A320, will be placed in the new training center in Vietnam.
Course completion certificates issued by BAA Training are valid in all EASA countries and Belarus, Jordan, Laos, Kazakhstan, Kyrgyzstan, Kenya, Nepal, the Republic of Korea, Russia, Seychelles, Tanzania, Tajikistan, and Ukraine.
Moreover, BAA Training created is constantly developing MOMook, an intelligent business management software designed specifically for aviation training centers. MOMook also offers and integrated solution for efficient and cost-effective tracking of aircraft− Flight Tracker. SimHelp, yet another business line of BAA Training, is the first point of contact for FFS Operators regarding spare part supply. In 2016, BAA Training launched Emblick− an internal Avia Solutions Group training and competency center, which is also open for other Lithuanian organizations.
In 2017, the new business line TapkPilotu took its first steps to promote a sponsorship training model for Lithuanian citizens. The first students should start training in the second half of 2018.
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) with a database of over 300,000-aviation specialist such as flight crewmembers, aircraft engineers, and others. AviationCV.com is aimed at meeting the short and long-term human resource needs of the global aviation industry.
Crew training and staffing segment: Sales geographical segmentation in 2017 in %
2017 Full Flight Simulator Network
E) Private jet charter and flight and tour operations
The Group is involved in private jet charter operations related activities conducted through its subsidiary, KlasJet 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 and other airports across the 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 customers and aircraft owners: maintenance and refurbishment solutions, CAMO support, crew recruitment and training solutions, as well as spare part and component supply.
The Group is involved in flight operation related activities conducted through its subsidiary, Laserpas UAB. In March 2015, Laserpas started its operations as an international remotely piloted airborne system (RPAS) operator, offering comprehensive and tailor-made UAV solutions to accommodate a wide array of customer needs in a variety of industries. Laserpas was the first independent RPAS operator in the Baltic States, engaged in the activity of developing state-of-the-art payload control and image processing systems. The company now conducts high-precision, long distance UAV and manned helicopter operations that provide power grid operators and distributors with actionable data and professional support. In 2016, Laserpas executed its first commercial contracts, and currently has pending contracts in Serbia, Estonia, Brazil, Peru, and Chile. Laserpasy, Laserpas is able to use both – its own and leased UAVs and manned helicopters.
KIDY Tour UAB, KIDY Tour OÜ , KIDY Tour OOO and KIDY TOUR SIA collectively represent the Tour Operation companies. The purpose of the companies’ activities is to provide clients with tour operator and other related services. Currently, the companies are offering a wide range of holiday tours into Turkish and Egypt resorts. In order to become one of the leading travel operators in the Baltic States, KIDY Tour companies are actively working on introducing new travel destinations.
Private jet charter, flight and tour operations business segment: sales geographical segmentation in 2017 in %
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. The 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
Mr. Gediminas Žiemelis
Chairman of the Board
Mr Gediminas Žiemelis has unique management and advisory experience. In 1999, he started his career as the deputy manager of the Vindication and Fraud Division for Lithuania Savings Bank, AB (now Swedbank, AB) and the Department of Problematic Assets and Vindication (1999–2001). He acted as the General Manager of Žvilgsnis iš arčiau, UAB (2001–2005) (now Creditinfo, UAB), which was engaged mainly in debt recovery and credit risk management. He was the General Manager of ŽIA VALDA, AB (2002–2006) and the General Manager for the brokerage firm Finhill Soft, UAB FMĮ (in 2007-2008). Mr. Gediminas Žiemelis has been the Chairman of the Management Board for ŽIA VALDA, AB since 2002 and was a Business Development Manager from 2007 until 2009. Mr. Gediminas Žiemelis is the Chairman of the Management Board for Avia Solutions Group, AB; since 2009, he has been the Manager of the Development Department; and a member of the Supervisory Board for Agrowill AB (now AUGA Group, AB) since 2010. Mr. Gediminas Žiemelis also acted as Chairman of the Management Board for AviaAM Leasing, AB (2012-2014). In 1999, Mr. Gediminas Žiemelis obtained a bachelor’s degree from the Faculty of Business Management at Vilnius Gediminas Technical University. In 2004, He completed a master’s degree from the Faculty of Law at Mykolas Romeris University in Lithuania. He also finished the Harvard Business School Program for Leadership Development (PLD): Accelerating the Careers of High-Potential Leaders. Mr. Gediminas Žiemelis was selected twice as one the top 40 most talented young industry leaders in Aviation Week & Space Technology and is a member of YPO (Young Presidents Organization).
Mr. Aurimas Sanikovas
Mr. Aurimas Sanikovas started his career as an audit associate in PricewaterhouseCoopers, Lithuania in 2001. During his career at PricewaterhouseCoopers, Lithuania; he worked his way up to a management position. He performed supervision and execution of audit engagements performed in accordance with the IAS and US GAAS. Mr. Aurimas Sanikovas has expertise in the telecommunications, IT, manufacturing, construction, consumer products, and energy sectors. From 2007 until 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 for Avia Asset Management, AB (2008–2010), a member of the Management Board for FL Technics (2008–2010), and a member of the Management Board for Small Planet Airlines, Sp.z.o.o. and Small Planet Airlines, AS (2009–2010). He has acted as the Interim General Manager for Avia Funds Management, UAB (2010-2011). From 2010 until 2017, Mr. Aurimas Sanikovas was a member of the Supervisory Board for Agrowill Group, AB (now AUGA Group, AB). Mr. Aurimas Sanikovas acted as a member of the Management Board for AviaAM Leasing, AB (since 2012). His main responsibilities at the Group include controlling of operations of subsidiaries, leading budgeting, reporting, treasury and risk management functions, finance function staffing, fundraising, deal structuring, tax planning, and managing the resolution of finance related issues. Mr. Aurimas Sanikovas obtained his bachelor’s and master’s degrees in economics at the Faculty of Economics from Vilnius University in Lithuania with an exchange term at the University of Copenhagen. Since 2006, Mr. Aurimas Sanikovas has been a fellow of the Association of Chartered Certified Accountants (ACCA). Mr. Aurimas Sanikovas owns 294,478 of AviaAM Leasing AB’s shares (0.68% of all the Shares). Apart from the 69.377 Avia Solutions Group, AB’s shares (0.89 percent of all shares) and his AviaAM Leasing, AB’s shares, Mr. Aurimas Sanikovas does not participate in the capital of any other legal entities.
Mr. Žilvinas Lapinskas
Mr. Žilvinas Lapinskas has deep international business expertise. He began his career as a sales manager in Rubikon Prodimpeksas. In 1999, he started working for City Service, an OMX listed company, where he held positions as CCO and Head of Facilities Management Department prior to becoming CEO in 2004. Mr. Žilvinas Lapinskas took LEAN 6 Sigma Implementation courses as well as a Facilities Management course at Dalkia Facility Management in Stockholm, Sweden. Mr. Žilvinas Lapinskas holds a bachelor degree in Business management. Since November 2013, Mr. Žilvinas Lapinskas is CEO for FL Technics, UAB. Mr. Žilvinas Lapinskas is a direct shareholder of the Company and has 32,960 Avia Solutions Group AB’s shares that account for almost 0,42 percent of the share capital. Mr. Žilvinas Lapinskas does not participate in the capital of any other legal entities.
Mr. Linas Dovydenas
Mr. Linas Dovydenas has a great deal of experience across various industries with specializations in project management, project start-up, and extensive execution experience in international business. He began his career in management in 2002 as a Supervisor for Key Accounts in the Baltic States at Philip Morris Baltic States, UAB. Mr. Linas Dovydenas quickly worked his way up the ranks and held titles such as Manager of National Sales in Estonia, Manager of Customer Development in Lithuania, and Manager of National Sales in Lithuania. After a highly successful career with Philip Morris Baltic States, UAB; he took the position of CEO for Avia Solutions Group, AB in 2007 and led the company from that position more than 11 years. In 2017, Mr. Linas Dovydenas became a member of the board for Avia Solutions Group and took the role of Chief Commercial Officer. In 2006, Mr. Linas Dovydenas received an Executive Master of Business Administration from the Baltic Management Institute located in Vilnius, Lithuania. He also received a bachelor’s degree in Business and Business Administration in 1997.
Dr. Ricardas Laukaitis
Dr. Ricardas Laukaitis is a reputable businessman with an expansive amount of experience across a wide range of industries. In 1995, he began his career in management as the Director of the Trade Finance Department and Head of the Credit Risk Unit at Hermis Bank, AB (now SEB, AB). Dr. Ricardas Laukaitis moved on to NORD/LB Lietuva and took the position of Head of the Large Corporate Clients Department. He served as a member of the Supervisory Council at Asset Managment (LT) for DNB NORD, UAB from 2008 until 2012. In 2009, Dr. Ricardas Laukaitis took the role as Director of the Large Corporate Department at DNB, AB until 2017, when he became the Deputy CEO for Avia Solutions Group, AB. Dr. Ricardas Laukaitis obtained a Ph.D. in Economics, a master’s in Corporate Finance, and a bachelor’s in Mechanical Engineering from Vilnius Gediminas Technical University.
B) Top Management
|JONAS JANUKĖNASAvia Solutions Group, CEO||ZILVINAS LAPINSKASFL Technics, CEO||EGLE VAITKEVICIUTEBaltic Aviation Academy, CEO||GYTIS GUMULIAUSKASBaltic Ground Services Lithuania, CEO|
|DAINIUS MEILUNASLocatory.com, CEO||DARIUS SALUGAFL Technics Jets, CEO||SKAISTE KNYZAITEAviationCV.com, CEO||DOVYDAS JURGELEVIČIUSKlasjet, CEO|
|ANATOLIJ LEGENZOVHelisota, CEO||TOMAS VAISVILARamport, CEO||MANTAS VASKELALaserpas, CEO||GVIDAS AUKSTUOLISKIDY Tour, CEO|
|LINAS GEGUŽISBaltic Ground Services Group, CEO|
After the euro adoption on 1 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 31 December 2016 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.
Share premium as of 31 December 2017 amounts to EUR 33 133 thousand.
On 3 March 2011 shares of the Company were introduced to trading at Warsaw Stock Exchange (code: AVIASG).
On 31 December 2017, the Company had eighteen shareholders whose shares were accounted in Lithuanian securities depository system. The shares of remaining shareholders were accounted in Polish securities depository system. Due to prevailing private information protection laws in Poland, Polish National Depository for Securities is not able to provide the Company with information about a number of Company’s shareholders whose shares are accounted in Polish securities depository system.
An up-to-date list of the Company‘s shareholders is available on the website: SHAREHOLDERS
Avia Solutions Group (Lithuania) Smolensko st. 10, LT-03201 Vilnius, Lithuania Tel.: +44 20 808 99777 E-mail: email@example.com
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: firstname.lastname@example.org
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: email@example.com
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: firstname.lastname@example.org
Avia Solutions Group (Thailand) S184/30 Forum Tower 12A Fl. Ratchadaphisek Road, Huay Khwang, Bangkok 10320, Thailand Tel.: +66 204 75458 E-mail: email@example.com
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: firstname.lastname@example.org
Avia Solutions Group (Estonia) Narva road 7, Tallinn, Estonia Tel.: +3728002222 E-mail: email@example.com
Avia Solutions Group (Serbia) 11180 Belgrade 59, Belgrade, Serbia Tel.: +381 64 887 05 88 E-mail: firstname.lastname@example.org
Avia Solutions Group (United States) 2617 SW 143 Place, Miami FL33175, USA Tel.: +1 305 812 0337 E-mail: email@example.com