History Libra Group
1 history
1.1 lomar shipping
1.2 libra group , diversification
1.3 expansion
history
lomar shipping
the libra group s predecessor company, lomar shipping, founded michael logothetis in london in 1976. michael logothetis s son george logothetis joined lomar shipping in 1993, , in 1995 became company s ceo. on next ten years, george enlarged lomar s fleet less 5 more 70 ships.
libra group , diversification
in 2003, george logothetis founded libra group, based in new york , london, in order diversify , expand shipping company new business areas. george remains libra group s chairman , ceo.
at time of company s formation, international shipping still chief area of operations. between 2004 , 2007, during boom in shipping business, libra group sold off of lomar s ships. profit ship sales, new company purchased fleet of airplanes, @ cyclical low, , set aircraft leasing division, lease corporation international (lci), leases aircraft airlines such british airways , virgin atlantic. libra group repeated successful buy-low, sell-high formula of going counter prevailing market trends several times in ensuing decade, building large diversified multinational conglomerate empire out of former small shipping company. each of company s new ventures headed existing top personnel or close associates.
expansion
in 2006, libra group started expanding beyond aviation. new major ventures included real estate, hotels , hospitality, , renewable energy.
in december 2009, after ship values slumped in wake of financial crisis, libra group re-entered shipping business , purchased allocean , fleet of 26 ships. december 2009 through december 2013, company purchased total of 73 ships.
in 2009, company re-entered aircraft leasing market when lci purchased new fleet of aircraft. in 2012, lci expanded operations include helicopter leasing well.
the libra group has expanded beyond core businesses of shipping, aircraft leasing, real estate, hotels , hospitality, , renewable energy, include variety of interests including media, construction, service companies, , financial services. between 2008 , 2014, company purchased $7 billion $7.5 billion of assets globally. of 2017, company owns , operates 30 subsidiary companies around world.
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