Baltic Ground Services CZ signs financing agreements with Raiffeisen Bank

posted on 3rd September 2019 by Justin Burns
Baltic Ground Services CZ signs financing agreements with Raiffeisen Bank

Baltic Ground Services CZ – sister company of Baltic Ground Services (BGS) and part of the Avia Solutions Group, has signed operational financing contracts worth €1.2 million with Raiffeisen Bank group.

The Czech Republic ground handler currently operates in Ostrava Airport, where it provides into-plane fueling service. Until now, the company has been financed by the shareholder.

“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,” said Kristijonas Bakutis, director of business development of BGS and the CEO of Baltic Ground Services CZ.

According to Bakutis, 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.

“Our bank always likes to see when successful companies enter the Czech Republic, and we have been honored 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,” said Petra Janošíkova, large corporates banker of Raiffeisenbank.

BGS operates in Lithuania, Latvia, Estonia, Poland, Czech Republic, Russia, and Ukraine. BGS supports domestic and international carriers in Vilnius, Kaunas, Palanga, Riga, Tallinn, Ostrava, Modlin, Chopin, Warsaw, Krakow, Katowice, Zhukovsky, Boryspil, Kiev, Odessa and Lviv airports.