One of the largest aviation business groups in Eastern Europe Avia Solutions Group AB transferred its entire controlling package of shares (95.5%) in Small Planet Airlines AS (Estonia) to Brova Air OU. Following the transaction the name of the company will be changed to North Wind Airlines AS.
‘Although normally our company tends to acquire the already operating companies, this time we have come to an entirely different decision. The charter flight market is very specific and highly dynamic. The strategic move to sell the Estonian company was made in accordance with the company’s intent to focus on larger European markets with over 1 000 000 charter flight passengers per year. In this respect, having been among the first countries to be entered by Small Planet Airlines, Estonia has ceased to meet the company’s expectations,’ explained the CEO of Avia Solutions Group Linas Dovydenas.
According to L.Dovydenas, the company is focussed on becoming one of the ten largest charter flight providers in Europe; therefore Small Planet Airlines, operating offices in Lithuania, Italy, Great Britain, France and Poland is currently increasing its capabilities in these particular markets. The latter is expected to become the largest Small Planet Airlines served market next year.
