newstodate.aero
Dec 08, 2011 (newstodate): In a deal, announced today, the Lithuanian aviation group Avia Solutions Group has transferred all shares in Small Planet Airlines Estonia to Brova Air.
Little is known of Brova Air except that is was set up only on September 21, 2011, in Riga, Latvia, but in the announcement it is said to be Estonian company.
Small Planet Airlines has AOCs in Italy, Lithuania, and Poland, and has established subsidiary charter carriers in Italy, Poland as well as in Estonia, and only this latter carrier is comprised by the deal with Brova Air.
After the transfer of ownership, Small Planet Airlines is now renamed North Wind Airlines.
Behind the sale is the recognition that is does not fit into the overall strategy.
-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 one million 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, says Linas Dovydenas, Avia Solutions Group CEO.
Until August 2010 named FlyLAL Charters, the Small Planet Airlines was established in 2007 to separate charter services from the Lithuanian national carrier flyLAL that later went bankrupt on January 23, 2009.
Little is known of Brova Air except that is was set up only on September 21, 2011, in Riga, Latvia, but in the announcement it is said to be Estonian company.
Small Planet Airlines has AOCs in Italy, Lithuania, and Poland, and has established subsidiary charter carriers in Italy, Poland as well as in Estonia, and only this latter carrier is comprised by the deal with Brova Air.
After the transfer of ownership, Small Planet Airlines is now renamed North Wind Airlines.
Behind the sale is the recognition that is does not fit into the overall strategy.
-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 one million 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, says Linas Dovydenas, Avia Solutions Group CEO.
Until August 2010 named FlyLAL Charters, the Small Planet Airlines was established in 2007 to separate charter services from the Lithuanian national carrier flyLAL that later went bankrupt on January 23, 2009.