Economy
Posted: 10 months ago

Georgian Airline Myway Airlines has New Owner

Georgian airline Myway Airlines has a new owner. Plus Aviation Investment owns 100% of the airline.

According to the purchase agreement uploaded to the public registry, the volume of the transaction is $ 1.95 million.

Plus Aviation Investment is registered in August 2020. Its 49% share is owned by Chinese citizen Chengliang Liua, 40% by Simon Jambazishvili, and 11% by Rati Bakuradze, CEO of the same company.

By agreement between the parties, the company Plus Aviation Investment will take over the loan obligations between the former owner of the airline and the company "Timber Industrial Society Huashun Ltd. Georgia''.

It is noteworthy that the Georgian airline Myway Airlines has some problems with access to the EU market. For example, due to the fact that the airline did not meet the requirements for a single airspace between Georgia and the EU, regular flights to EU countries were refused in July 2019.