Baltic Ground Services signs €1.2 million financing contracts

Darren Wood
By Darren Wood September 4, 2019 10:29

Baltic Ground Services signs €1.2 million financing contracts

Baltic Ground Services CZ has signed €1.2 million worth of operational financing contracts with Raiffeisen Bank group. 

Baltic Ground Services CZ is the daughter company of Baltic Ground Services (BGS), an international provider of ground handling, aircraft fueling, passenger services belonging to the Avia Solutions Group.

Kristijonas Bakutis, director of the business development of BGS and the CEO of Baltic Ground Services CZ, said: “This is a major recognition for the company that started operating in the Czech Republic just two years ago. Baltic Ground Services CZ has achieved its financial targets relatively quickly. The bank positively evaluated the results, as well as business sustainability, good prospects, signed contracts and development projects for the upcoming five years.”

The firm currently operates in Ostrava airport where it provides into-plane fueling service. Until now, the company has been financed by the shareholder.

It’s said the agreement will help to reduce the operational financing and leasing costs, to increase competitiveness that will lead to better opportunities for further development in the Czech Republic.

Petra Janošíkova, large corporates banker of Raiffeisenbank, added: “Our bank always likes to see when successful companies enter the Czech Republic, and we have been honoured that Baltic Ground Services decided for us as a financing bank. Avia Solutions Group repeatedly demonstrated its growth potential in recent years, and we are pleased to be an integral part of their growth in the future and support them in other market opportunities.”

Darren Wood
By Darren Wood September 4, 2019 10:29