Avion completes financing to accelerate expansion
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Avion Group completed a full equity financing, enabling thecompany to accelerate its international expansion. Following the successfuloperation of its flight training center in Malta, the commercial contract withIAGO and the opening of a new flight training centre at London Gatwick laterthis year, this is again a major step forward in building the independent FullMotion Flight Simulator company.
In the transaction, Kempen European Private Equity Fund willacquire a substantial stake in the company, further strengthening the company’sshareholder base and providing capital for further growth.
“The proceeds of the issuance of new shares will firstly beused to upgrade our Phantom simulator to the new 2.0 UPRT industry standard anddevelop new features,” said Erik Varwijk, Avion’s CEO, “and secondly on thepre-financing of the development of new fully owned flight training centers.”
