newstodate.aero
MAY 24, 2005 (newstodate): An announcement on the winner of the tender for buying Lithuanian Airlines will probably not be made until the beginning of July, sources say.
The privatisation commission has now opened the documents containing the bids from the four participants, but it has enforced a 45-days period to investigate the financial details on the companies and other pertinent issues.
After the announcement of the succesful candidate, concrete negotiations will then be opened to finalise the eventual contracts, and this may well take several months, resulting in a signed and sealed agreement towards the end of the year.
-Which makes the whole issue quite difficult as we will then be well into the traditional low season with discounted fares and declining demand, and several months to go before a new flight program can be designed, says an industry source close to the process.
The privatisation commission has now opened the documents containing the bids from the four participants, but it has enforced a 45-days period to investigate the financial details on the companies and other pertinent issues.
After the announcement of the succesful candidate, concrete negotiations will then be opened to finalise the eventual contracts, and this may well take several months, resulting in a signed and sealed agreement towards the end of the year.
-Which makes the whole issue quite difficult as we will then be well into the traditional low season with discounted fares and declining demand, and several months to go before a new flight program can be designed, says an industry source close to the process.