A court has ordered a freeze on all of the assets of Air Lituanica, a defunct airline that is indirectly owned by the city of Vilnius.
"Air Lituanica"
© DELFI / Šarūnas Mažeika

Vilnius Regional Court issued the freezing order at the request of Air Lituanica's largest creditor, the district heating grid operator Vilniaus Šilumos Tinklai (Vilnius Heating Grid).

The order will remain in effect until the court hears a request from Vilniaus Šilumos Tinklai and Air Lituanica Director Nerijus Jukna to open bankruptcy proceedings against the airline.

Air Lituanica announced on May 22 that it was suspending operations and said a week later that it would file for bankruptcy.

According to data from Vilnius local authority, the air carrier's net loss almost doubled last year compared with 2013 to reach 10.27 million euros. Its annual revenues last year rose by 70.2 percent to 6.4 million euros.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Court: Lithuanian companies don’t have to pay million-worth fine to Serbia

Arvi , a Lithuanian fertilizer, fodder, sugar and turkey meat production group owned by businessman...

Transport Minister: new airport could be built between Vilnius and Kaunas (1)

As the numbers of air passengers are growing in Lithuania, a new airport could be built between the...

MPs call on Adidas to stop sale of Soviet-themed clothing

Several lawmakers from the opposition conservative Homeland Union – Lithuanian Christian Democrats...

Lithuania one of the first countries in EU to establish the definition of a start-up by law

The Parliament of the Republic of Lithuania (Seimas) approved the definition of a start-up provided...

Transport Minister: Lithuania ready to test driverless cars

Lithuania is putting a lot of effort and is ready to test driverless cars , the country's Transport...