Avia Solutions Group’s Net Profit Reached €14.05 Million in 2018

Avia Solutions Group, the largest aviation services and solutions company group from Central & Eastern Europe, earned €420 million in consolidated revenue in 2018, a 25% increase from the year before (€337 million). Avia Solutions Group consolidated net profit increased by 96% to €14.05 million (€7.1 million in 2017).

All the major group business segments increased revenue in 2018: aircraft maintenance, repair and overhaul segment (FL Technics, Storm Aviation and Jet Maintenance Solutions) revenue grew by 16% to €157.5 million, aircraft ground handling and fueling (Baltic Ground Services) – 31% to €204.5 million, crew training and staffing (BAA Training and AviationCV) – 12% to €20 million, private jet charter, flight and tour operations (KlasJet and Kidy Tour) – 39% to €36.4 million.

Avia Solutions Group invested €38.9 million in 2018: €10.5 million were allocated for BAA Training installing 2 Airbus and Boeing full flight simulators at Vilnius (Lithuania) training center, €11.3 million for acquisition of  railway freight business BGS Rail in Ukraine, and €6.2 million for purchase of logistic & fueling trucks for Baltic Ground Services.

In 2018 Group‘s MRO company FL Technics signed a long-term contract with Lufthansa group companies, FL Technics Indonesia  earned Part-145 certificate from U.S Federal Aviation Authority to provide maintenance and repair services to aircraft originating from the US or those with parts from the United States. FL Technics established FL ARI - joint venture with China Airlines Leasing Group Holdings Limited (CALC) and it’s subsidiary Aircraft Recycling International (ARI) that will service aircraft in Harbin (China).

Group‘s aviation training company BAA Training installed 2 full flight simulators in Vilnius (Lithuania), started construction of training center in Ho Chi Minh City (Vietnam) and opened Ab Initio flight base in Lleida-Alguaire international airport  (Spain) to ensure all-year-round training.

Avia Solutions Group aircraft ground handling and fueling company Baltic Ground Services expanded its presence to 16 airports and established new railway freight transport company BGS Rail in Ukraine.