Airport, Good for Business, Lithuania, Transport

Zuokas stressed the importance of Vilnius-Kaunas cooperation by joining the two cities and their airports by a high speed rail which would allow getting from one city to another in 30 minutes. Air Lituanica is planned to operate from Vilnius, Kaunas and Palanga airports, writes LETA/ELTA.

"According to the estimates of experts, tourists using Air Lituanica would spend LTL 36.2 million (EUR 10.5 million) in Vilnius and Kaunas every year. The expected annual passenger volume accounts for 125,000. During the first year of operation, we plan to offer flights to 6 airports – in Amsterdam, Brussels, Kiev, London, Moscow and Palanga. After a year of operation, 6 new directions would be launched: to Stockholm, Munich, Berlin, St Petersburg, Hamburg and Tbilisi. While in 2015 a flight to Istanbul would be added," the Vilnius mayor said, presenting the project.

A total of 14 Lithuanian companies and businessmen have contributed to the establishment of the company.

Air Lituanica's initial share capital stands at EUR 2.5 million. The carrier is expected to launch operations in spring of 2013.

Vilnius City Municipality currently owns 34% of shares, 17% were distributed to Lithuania-based companies or natural persons, while 49% of the carrier is owned by the strategic investor.