Avia Solutions Group is pleased to announce it has entered into a strategic partnership with Certares Management LLC (together with its affiliates, “Certares”), a leading US-based investment specialist dedicated to the travel, tourism and hospitality sectors, with additional investment from Knighthead Capital Management, LLC, a US-based investment advisor that specializes in event driven opportunities (“Knighthead”). Certares and Knighthead, through certain funds and accounts, have provided a €300 million investment to Avia Solutions Group.
The transaction was completed after Avia Solutions Group received all required regulatory approvals in relation to the investment.
Avia Solutions Group intends to use the net proceeds from this offering for strategic acquisitions, capital expenditures and general corporate purposes. Certares’ participation in Avia Solutions Group’s Board of Directors will further strengthen the governance of the organisation. Furthermore, the partnership will help support Avia Solutions Group’s future development plans as well as provide access to Certares’ complementary expertise and industry network.
Gediminas Žiemelis, Founder and Chairman of the Board of Directors of Avia Solutions Group, said: “We are excited to officially welcome Certares and Knighthead to Avia Solutions Group. We are certain that this partnership will combine the best operational and investment practices, deep sector expertise, and a wide industry network of two successful market players. The investment is a strong vote of confidence by one of the most renowned and experienced investors in the travel industry. The investment and the partnership as a whole will enable our future growth plans and help further expand our operations across key business segments – positioning us to take full advantage of the next phase of our development plans.”
Tom Klein, Managing Director at Certares, said: “Avia Solutions Group, led by a deeply experienced management team, has emerged as a leading player in the aerospace services industry, and we believe that with the support of Certares, Avia Solutions Group can expand its global footprint and further extend its leadership position across several aerospace services sectors. The investment will help enable the next phase of Avia Solutions Group’s growth plans in passenger and cargo aviation services, maintenance and engineering, crew training, ground handling and logistics.”