newstodate.aero
Sep 28, 2006 (newstodate): FlyLAL, formerly Lihuanian Airlines, will remain the only Baltic airline without foreign ownership as the deal with FlyMe has been called off.
FlyMe, a Swedish low-cost airline backed by Icelandic capital, had planned to acquire the Lithuanian airline, but its financial troubles have forced it to scrap expansive plans for buying FlyLAL and the UK Astraeus.
FlyLAL is, however, in dire straits after a most unprofitable 2005, and will need to find new ways to regain strength.
FlyMe, a Swedish low-cost airline backed by Icelandic capital, had planned to acquire the Lithuanian airline, but its financial troubles have forced it to scrap expansive plans for buying FlyLAL and the UK Astraeus.
FlyLAL is, however, in dire straits after a most unprofitable 2005, and will need to find new ways to regain strength.