With a view to concentrate on its principal activities, Lithuanian national carrier Lithuanian Airlines has decided to sell the shares in its subsidiaries
Published:
13 January 2004 y., Tuesday
With a view to concentrate on its principal activities, Lithuanian national carrier Lithuanian Airlines has decided to sell the shares in its subsidiaries: catering company UAB Aero-Chef-LAL (50.8% shareholding), tour operator UAB Aviaturas & Partners (52% shareholding) and regional airline AB Aviakompanija Lietuva (Air Lithuania) (100% shareholding).
The 100% share portfolio of public stock company Aviakompanija Lietuva (Air Lithuania) will be sold through open tender procedure. The initial price for the shares is LTL 715 thousand (app. EUR 207,000). According to the Company Law of Lithuania, the other present shareholders of closed stock companies Aero-Chef-LAL and Aviaturas & Partners have a pre-emptive right to acquire the shares, but Lithuanian Airlines may also sell the shares to other potential investors.
“Lithuanian Airlines sells the shares in the subsidiaries to concentrate the attention and resources on the principal activity of the company. The income from sale of the shares in subsidiaries would be invested into our airline”, commented Mr. Zvinys, Director General of Lithuanian Airlines.
The principal activity of Lithuanian Airlines is carriage of passengers and cargo on scheduled and charter flights. The company also provides ground-handling services at Vilnius International Airport and maintenance in compliance with JAR-145 requirements. Lithuanian Airlines is expected to gain LTL 2.2 million net profit in 2003.
Šaltinis:
lda.lt
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU.
more »
International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”.
more »
Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes.
more »
A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank.
more »
The electric car is an opportunity for European industry.
more »
The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years.
more »
The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB).
more »
At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn.
more »
Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek.
more »