Baltic Ground Services CZ refinances

Written by: Alwyn Brice |
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Baltic Ground Services CZ, a daughter company of Baltic Ground Services, has signed €​1.2m worth operational financing contracts with the Raiffeisen Bank group.

Baltic Ground Services CZ currently operates in Ostrava airport, where it provides an into-plane fuelling service. Until now, the company has been financed by its shareholders.

“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 the 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, in turn, lead to better opportunities for further development in the Czech Republic.

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