Airport, EU – Baltic States, Good for Business, Lithuania, Mergers and take-overs, Transport

An agreement with the BB Holding ehf to acquire 100% of shares in Bluebird Nordic was signed on January 24, the group said. 

It did not disclose the value of the deal. 

"With this new acquisition, ASG steps into the narrow-body ACMI cargo business," Ziemelis said.  

"Being the biggest passenger ACMI group with one of the largest corporate airline in Europe, we were actually missing cargo operations," he said. "Today, we own 7 AOCs in various countries and our plan is to achieve synergy between pilots pool, maintenance and lease costs." 

Bluebird Nordic has a fleet of six aircraft and operates scheduled and charter flights under its own brand. It also offers cargo export and import services from and to Iceland.

ASG's consolidated net profits almost doubled in 2018 from 2017 to 14.05 mln euros. Annual revenue jumped by 25% to 420 mln euros. 

The group has 67 offices and production sites worldwide and employs over 5,000 people.