Avia Solutions Group’s operations in Ukraine and Russia have not been affected by tensions between the countries. We are monitoring developments very closely and have already made all steps needed to minimize our operational risks. Further development of new projects will continue in line with our prudent risk management policy. Our exposure to Russia and Ukraine is minor and well within the limits which ensures the resilience of the group under all possible scenarios.
The revenue from Ukrainian and Russian subsidiaries comprises an insignificant part of the overall group’s revenue, thus it has a minimum effect on the company. In 2021, the total revenue from the Russian subsidiaries of Avia Solutions Group was just 0.3% of the total consolidated revenue and the total revenue from Ukrainian subsidiaries was 2.4% of the total consolidated revenue. Russian subsidiaries of Avia Solutions Group were loss-making in total, while the total net profit from Ukrainian subsidiaries of Avia Solutions Group was just 6.4% of the total consolidated net profit. Total assets in Russian subsidiaries were just 0.2% of the total consolidated assets and the total assets in Ukrainian subsidiaries were 4.5% of the total consolidated assets. The immovable property of Avia Solutions Group situated within the countries is also insignificant – in Russia, the immovable property comes only to 62k EUR, and in Ukraine – 117k EUR.
Avia Solutions Group reassures that the ongoing unfortunate situation will not have a great impact on the group’s operations and revenue. The group is ready to reconsider its plans and strategies if the need presents itself.
The information is summary in nature, it is not comprehensive and has not been independently verified, and it should not be relied upon. The Information addresses certain specific circumstances as at the date they were prepared. Taking into account all of the above, each member of the Group, its affiliates, and in each case, their direct and indirect shareholders, holding companies, representatives, agents and, advisors and subsidiaries: a) make no representation or warranty of any kind whether express, implied or statutory, as to the correctness, completeness, adequacy, accuracy or reasonableness of the information presented herein; and b) expressly disclaim (to the extent permitted by law) and exclude any and all responsibility and/or liability which may be based on the information provided herein, and you, as the recipient, are required to make such independent investigations and verification as you deem necessary. The information presented herein does not include, nor shall it be construed as including investment advice on, advice on the merits of, or a recommendation in relation to, buying, selling, subscribing for or underwriting any securities, shares or other financial investments of any kind. If you take any action or decision to buy, sell, subscribe for or underwrite any investments, you do so entirely at your own risk. The information and this announcement contain inside information. This notice and any dispute arising from it or in connection with the information, whether contractual or non-contractual, is governed by English law and all recipients, by accepting this Information, agree that the courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with the information.