Owner of Myway Airlines Sells a 100% Share in the Company

Georgian Huashun International Industrial Investment Group LTD sells 100% stake in Myway Airlines.

The buyer is already known, it is the company Plus Aviation Investment. A share purchase agreement has already been signed between the parties, and the volume of the deal is $ 1.95 million.

According to the public registry, Plus Aviation Investment was 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.

According to the purchase agreement between the parties, the buyer must pay the amount within 3 days after signing the contract by one transfer method. At this time the agreement between the parties has not been negotiated due to a defect found in the documents by the Public Registry. The registry has already given the parties 30 days to correct the defect.

The purchase agreement states that Plus Aviation Investment Company must ensure the fulfillment of the obligations under the Loan Recognition Agreement between Georgian Huashun International Industrial Investment Group LTD and Georgian Timber Industrial Society Ltd. on June 29, 2020.

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.