Aero Georgia seeks European investor

Aero Georgia Group is in talks with a European investor to raise the capital it requires to set up a new Georgian airline, which will be called Aero Georgia (Tbilisi).

“One of the projects we are working on is the creation of a new airline. We are already in intensive talks with a potential investor,” Aero Georgia Group Director Igor Aptsiauri, told Caucasus Business Week. “It will be a passenger airline, although the business model is still under discussion. It could be full service, low-cost, mixed or chartered, [it is] still in development. The airline will most likely be called Aero Georgia.”

Aptsiauri added: “I am pleased that the investor is from Europe and most importantly from the aviation sector.”

Wizz Air (W6, Budapest) is currently Georgia’s largest carrier in terms of weekly seats, commanding 22%, followed by Turkish Airlines (TK, Istanbul New) with 14% and Georgian Airways (A9, Tbilisi) with 8%.