A court on August 25 opened bankruptcy proceedings for Air Lituanica, a defunct airline that is indirectly owned by the city of Vilnius.
Air Lituanica
© Bendrovės archyvas

The Vilnius Regional Court appointed Baklis, a local company, as the bankruptcy administrator and gave creditors 45 days to file their claims, Vaida Bytautė, the court's spokeswoman, told BNS.

The ruling can be appealed to the Lithuanian Court of Appeals within 10 days.

The bankruptcy petition was filed by Air Lituanica CEO Nerijus Jukna and Vilniaus Šilumos Tinklai, a municipal company to which the air carrier owes 2.143 million euros.

Jukna told the court that Air Lituanica had 1.999 million euros in assets and 8.244 million euros in overdue debts.

The court rejected Estonian Air's request to be brought into the proceedings as a third party.

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 the Vilnius local authority, the air carrier's net loss last year soared to 10.27 million euros, almost a two-fold increase from 5.19 million euros in 2013. Its annual revenues last year rose by 70.2 percent to 6.4 million euros.

Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
0
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Wellness start-up Urban establishes development office in Lithuania

Urban was founded in 2014 by Jack Tang and Giles Williams to provide easy and affordable access to...

Profits in Lithuanian banking sector highest since 2007 (1)

Lithuanian banks and branches of foreign banks in Lithuania earned almost 358 million euros (406...

Alternative lending in Baltics is taking market share from traditional banks and credit unions

In the ever-growing European alternative finance market, Lithuania - together with other Baltic...

Global supplier to mobility industry to open shared service centre in Lithuania

Dana Incorporated, a world leader in highly engineered solutions for improving the efficiency,...

Lithuanian organizations join forces to manage fintech risks

Nine Lithuanian entities agreed on Monday to cooperate in managing risks in the financial technology...