Small Planet Prepares for Next Stage by Organising itself as Group
OREANDA-NEWS. In preparation of future plans the holding company Small Planet Group has been established to take ownership of the Small Planet Airlines of Lithuania and Poland, along with other aviation related investments.
There is no change in shareholding. The shareholders of Small Planet Group are Vytautas Kaikaris and Andrius Staniulis who acquired the Company in March of last year.
Small Planet Group UAB will own 100% shares of the leisure carrier Small Planet Airlines UAB and 90% shares of Small Planet Airlines Sp. z o. o.. Small Planet Airlines UAB also holds a 25% stake in the business class charter KlasJet.
“The reorganisation is a step in our strategy to achieve a sustainable business model. We are evaluating some exciting opportunities as part of our development and the holding structure fits our future intentions.” stated CEO Vytautas Kaikaris.
The financial year 2013 was the most successful year in the history of Small Planet Airlines – last year’s profit in Lithuania and Poland amounted to EUR 2.6 million, and revenue reached 127.5 million, which represents a 52% increase in comparison to 2012.
The Company expects significant improvement in its profitability this year compared to last whilst modestly increase its revenue year on year.