New York-based Certares Management is making a €300 million ($354 million) structured equity investment in Avia Solutions Group (ASG), a provider of business and commercial aviation services. ASG will use the investment to pursue its growth plans in passenger and cargo aviation, maintenance and engineering, crew training, ground handling, and logistics. That includes growth through strategic acquisitions. In addition, ASG will use the funds for capital expenditures and general corporate purposes.

“This important partnership marks the beginning of Avia Solutions Group's next long-term development stage and the continuation of the growth of our global partnership network,” said ASG founder and chairman Gediminas Žiemelis. “With their impressive track record and sole focus on the travel sector, we are convinced Certares will add significant value to Avia Solutions Group's next phase of growth.”

ASG operates nearly 100 offices and production facilities globally and serves more than 2,000 clients in Europe, Asia, North America, and Australia. It is the parent company of business aviation MRO Jet MS and private jet charter operators and brokers Skyllence and KlasJet.