The company’s second victory in the capital’s airport land lease auctions was confirmed by BNS and Lithuanian Airports (LTOU).
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On the territory, the company will build an aircraft maintenance and repair (MRO) hangar, creating about 100 jobs, GetJet Group announced on Tuesday.
“Investments in MRO capacities are one of our key strategic directions,” said the company’s CEO Darius Viltrakis in a statement.
“GetJet Group,” which won the first auction last year, decided to further expand its operations at Vilnius Airport. Such projects create long-term value – strengthening the MRO ecosystem and increasing the competitiveness of the entire Lithuanian aviation sector,” said acting LTOU head Gintarė Norvilaitė-Tautevičė in a statement.
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As BNS wrote, last May GetJet won the LTOU auction for leasing a 4,660 square meter plot for 40 years. The company will invest about 10 million euros in the hangar to be built here between 2025 and 2029.
GetJet Airlines’ earnings before interest, taxes, depreciation, and amortization (EBITDA) last year reached 13 million euros, which was 19.3% higher than the year before (10.9 million euros).
The company’s revenue was 165 million euros, 0.6% higher (164 million euros), while net profit fell 9.6% to 9.4 million euros (10.4 million euros).
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