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May 20, 2015 (newstodate): According to Lithuanian media, the country's carrier Air Lituanica is in deep financial troubles, with liabilities outweighing assets by 4:1.
With the departure of the former main driver behind the projects, the former mayor of Vilnius Arturos Zuokas, the new city mayor has made clear that the city's tax-payers will not shoulder the debts, nor grant more loans to keep the airline flying.
Talks with potential new investors have also failed, media say.
Other unconfirmed information is that Air Lituanica is already in talks with Latvia's airBaltic over sale of some of its routes from Vilnius.
So far, none of these pieces of information have been confirmed by either Air Lituanica or airBaltic.
83 percent of shares in Air Lituanica belong to Air Vilnius Group, funded by the Vilnius municipal budget, and 17 percent belong to Air Lituanica Club, a group of shareholders including private persons and companies.
Air Lituanica received its AOC on June 26, 2013, allowing it to operate own aircraft, and on August 5, 2013, Lithuania's Civil Aviation Administration issued the Commercial Activity License for Air Lituanica.
Air Lituanica performed its first commercial flight on June 30, 2013, on the route between Vilnius and Brussels.
With the departure of the former main driver behind the projects, the former mayor of Vilnius Arturos Zuokas, the new city mayor has made clear that the city's tax-payers will not shoulder the debts, nor grant more loans to keep the airline flying.
Talks with potential new investors have also failed, media say.
Other unconfirmed information is that Air Lituanica is already in talks with Latvia's airBaltic over sale of some of its routes from Vilnius.
So far, none of these pieces of information have been confirmed by either Air Lituanica or airBaltic.
83 percent of shares in Air Lituanica belong to Air Vilnius Group, funded by the Vilnius municipal budget, and 17 percent belong to Air Lituanica Club, a group of shareholders including private persons and companies.
Air Lituanica received its AOC on June 26, 2013, allowing it to operate own aircraft, and on August 5, 2013, Lithuania's Civil Aviation Administration issued the Commercial Activity License for Air Lituanica.
Air Lituanica performed its first commercial flight on June 30, 2013, on the route between Vilnius and Brussels.