The aircraft leasing company Avia Asset Management, part of Lithuanian aviation business group Avia Solutions Group, purchases another four Boeing 737-300 aircraft. The investments into the aircraft acquisition and maintenance are of up to 80 million Litas, this transaction being financed by the U.S. companies and financial institutions.
The Lithuanian company FL Technics will carry out all the necessary technical inspections of the purchased aircraft and will undergo renovation of the aircraft salons. Avia Asset Management has plans the newly-purchased aircraft to lease to two airline companies. These companies expand their aircraft park with the help of Avia Solutions Group.
“By shoring up our positions in the Eastern region, we attempt to meet the needs of this aviation region. Increasing of the aircraft park allows us to gain stronger competitive advantages at the Eastern European aircraft leasing market. Besides, lease of aircraft also allows us to provide our customers with other services from Avia Solutions Group service package,” said Linas Dovydėnas, CEO of Avia Solutions Group.
According to Mr. Dovydėnas, before leasing an aircraft, Air Solutions Group carries out the detailed operational studies, offers the airline company’s development strategy, park formation methods, as well as long-term pilot, engineer and maintenance programs.
The aircraft leasing company Avia Asset Management, part of Avia Solutions Group, on the basis of a right of ownership and trust, currently owns twelve aircraft with the total value of over 300 million Lt. The aircraft of this Lithuanian company is being used by Kazakh, Slovak, Estonian, Lithuanian, Italian, and Dutch airline companies. By the end of this year the number of aircraft owned by the company is planned to be increased to 20-23.
The main Avia Asset Management activities are aircraft lease, insurance and optional services. Together with other companies of Avia Solutions Group, Avia Asset Management helps airline companies to form their aircraft parks, change aircraft types, and train the necessary crews and technical personnel. The company provides consultations and defines the processes, i.e. how the airline company’s aircraft, training and maintenance management should be organized.