Avia Solutions Group, a global multipurpose aviation holding company owned by Lithuanian businessman Gediminas Ziemelis, is set to issue 300 million US dollars (around 271 million euros) worth of international bonds, the vz.lt business news website reports on Friday.
Avia Solutions Group
© Bendrovės archyvas

Ziemelis told the website that funds received from the bond issue in the United States and the EU would be used for business development, including the acquisition and lease of planes, the purchase and dismantling of plane engines, as well as the acquisition of flight simulators.

It will be Avia Solutions Group's first international bond issue, with US bank JP Morgan and France's BNP Paribas picked as distributors.

BNS Lithuania reminds that Avia Solutions Group's consolidated net profit stood at 14.05 million euros last year, almost double from 2017, and the group's revenue rose 25 percent to 420 million euros. The group invested 38.9 million euros last year.

Avia Solutions Group was listed on the Warsaw Stock Exchange until November, 2018.

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