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
Reform of the banking system was one of the key themes at this year's World Economic Forum in Davos, with bankers coming in for a lot of criticism.
more »
Small firms have been hard hit by the economic crisis, and so must be given incentives and support, including easier access to credit, help with innovation, tax breaks and less red tape, MEPs on Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS), and experts agreed at a workshop on Monday.
more »
The elections and investiture of Porfirio Lobo as President of Honduras have cleared the way for the EU to restore normal relations with the Central American country and negotiations for signing a bi-regional Association Agreement may soon resume.
more »
The European Commission has approved applications from Lithuania for assistance under the European Globalisation Adjustment Fund (EGF).
more »
The European Commission has decided to refer Italy to the European Court of Justice (ECJ) on the basis of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) for failing to comply with a Commission decision of July 2008.
more »
The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity.
more »
In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton.
more »
The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs).
more »
On January 27 the European Commission assessed the action taken by Lithuania, Malta, Latvia and Hungary in response to recommendations proposed by the Commission and endorsed by the Council in July 2009 in respect to the correction of their respective budget deficits.
more »
EUROSTAT announced that Lithuania’s GDP rose by 6.1 % in the 3rd quarter of 2009 versus the previous quarter.
more »