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
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