newstodate.aero
Apr 02, 2013 (newstodate): The Lithuanian company Avia Solutions Group has now concluded the process for sale of Small Planet Airlines, based in Lithuania, and its Polish subsidiary Small Planet Airlines Poland.
The solution is a management buy-out, after which the carriers are now owned by Vytautas Kaikaris and Andrius Staniulis who constitute the current management of the company.
Following closing, Vytautas Kaikaris, Small Planet Airlines CEO, will own 70 percent of the company shares, with the remaining 30 percent in the hands of Andrius Staniulis, Chief Quality Officer of the company and member of the board of Small Planet Airlines Sp. z o. o.
Until the buy-out, Mr Kaikaris already owned 4.5 percent of the stake in Small Planet Airlines.
Small Planet Airlines will be operating six Boeing 737-300 and three Airbus A320 aircraft during this summer, three of which would serve the Polish charter market and six spread evenly among the UK, France and Lithuania.
The company has also placed orders for a further six airbus A320 aircraft, aiming at an all-Airbus fleet.
The solution is a management buy-out, after which the carriers are now owned by Vytautas Kaikaris and Andrius Staniulis who constitute the current management of the company.
Following closing, Vytautas Kaikaris, Small Planet Airlines CEO, will own 70 percent of the company shares, with the remaining 30 percent in the hands of Andrius Staniulis, Chief Quality Officer of the company and member of the board of Small Planet Airlines Sp. z o. o.
Until the buy-out, Mr Kaikaris already owned 4.5 percent of the stake in Small Planet Airlines.
Small Planet Airlines will be operating six Boeing 737-300 and three Airbus A320 aircraft during this summer, three of which would serve the Polish charter market and six spread evenly among the UK, France and Lithuania.
The company has also placed orders for a further six airbus A320 aircraft, aiming at an all-Airbus fleet.