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
An International Monetary Fund (IMF) mission led by Mr. Hunter Monroe of the IMF’s Western Hemisphere Department visited Dominica during January 18-28 for the annual Article IV discussions on economic developments and macroeconomic policies.
more »
Experts in agriculture and government authorities coincided in requesting new management mechanisms and market regulation to protect the farming sector from the price crisis and enable generational changeover in rural areas at the European Congress of Young Farmers, organised by the ASAJA-Seville agricultural organisation.
more »
Immediate action is required to solve Europe's skills deficiencies and give Europeans a better chance of labour market success in the future, says an independent expert report published by the European Commission today.
more »
The European Investment Bank (EIB) is lending EUR 15.5 million to upgrade water supply and wastewater treatment in the City of Mykolayiv (southern Ukraine) and EUR 100 million to finance small and medium-sized investments in the areas of SMEs, energy efficiency and the environment in Ukraine.
more »
The European Commission can confirm that on 20 January 2010 Commission officials carried out targeted inspections at the premises of producers of Flexible Alternating Current Transmission Systems (FACTS).
more »
The European Commission has authorised today under the State aid rules a Lithuanian scheme worth LTL 10 million (approximately EUR 2.9 million) aimed at supporting farmers who encounter difficulties as a result of the current economic crisis.
more »
The effects of the global food, fuel and economic crisis would be felt by Africa’s people for some time yet and it was important to persist with efforts to protect the most vulnerable while laying the foundations for future productivity and growth, World Bank Group President Robert B. Zoellick said Tuesday.
more »
Mongolia’s herders have learnt a hard lesson this winter; a lesson that can perhaps be applied to managing Mongolia’s economy.
more »
DnB NORD Bankas, the leader of the country’s in investment products market, raises initial margin ratio for repurchase deals for most actively traded Lithuanian and Estionian shares.
more »
With over 23 million unemployed in the Europe Union and the jobless figure having risen in every member state since last year, how Europe is coping with the crisis and the effect on pension systems were discussed on Thursday 28 January.
more »