ABS Jets, the Prague-based aircraft operator, has raised 450 million CZK (about US$24 million) of development capital by successfully issuing a portfolio of five-year bonds. The funds will allow the company to continue to expand its facilities and the range of aircraft services it provides.

The bonds were issued on the Prague Stock Exchange on September 30th and offer 6.5 per cent interest until maturity in 2016. Coupons are paid biannually in March and September, and the nominal value of one bond is three million CZK. They can be purchased on the secondary market through the Prague Stock Exchange or J&T Bank.

"We are very pleased at the level of interest from investors since the bonds were issued. The capital generated from the issue of bonds represents a significant injection of capital to our revenues and will enable us to further increase our hangar capacities and grow our business," says ceo Vladimír Peták. "The success of ABS and the level of business we are conducting at Prague Ruzyne airport ensures that investors are secure in the knowledge that the certainty of a return on investment is dramatically increased."

ABS operates one of Europe's largest fleets of Legacy 600 aircraft and is an Embraer authorised service centre and sales representative.

The company has greatly increased the level of operations it conducts at Bratislava airport with third-party maintenance services due to begin there in January 2012, and is planning to open subsidiaries in Kiev and Sofia.

It has also expanded at its main base at Ruzyne by opening a fourth hangar in September. This was launched with a stylish celebration at which about 170 guests from the USA, Brazil and Europe were treated to an evening of entertainment following the official hangar opening ceremony. Among the guests were executives from manufacturers Embraer, Bombardier, Cessna as well as aircraft operators, airport authorities, suppliers and vip clients. Guests were treated to a fashion show from some of Prague's top designers, this was followed by a reception and top-class entertainment. "The evening was judged to be a great success, guests were impressed by the new facilities, especially the new vip departure lounge," the company says.

The timing of the reception was coordinated to be on the same day as ABS Jets launched a major marketing campaign to encourage the use and ownership of business aircraft. The campaign, dubbed "Everyone can own a business jet," was rolled out throughout the Czech Republic and Slovakia.

In 2011, ABS Jets was named by The New Europe magazine as one of the 50 fastest growing companies, one of five winners in the private aviation category. Other domestic accolades include the EKIA Stability Award which is given to Czech market leaders, where ABS Jets was among the top seven companies in the transport and logistics sector and gained an AAA rating.