newstodate.aero
Feb 21, 2007 (newstodate): FlyLAL is amidst a major restructuring program entailing the spin-off a non-core businesses.
While remaining in the FlyLAL Group, the training centre and technical services department, currently belonging to flyLALLithuanian Airlines, will be transferred to separate companies registered as flyLAL Training Centre and flyLAL Technics.
Both companies will start operations from May this year.
The completion of new aircraft hangars is slated for May, and due to the significant increase in capacity the Group expects flyLAL Technics' income to rise by 50 percent this year already.
By March, 2007, a new company, Aviation Assets Management will be set up, and the scope of its operations will be announced in the near future.
While remaining in the FlyLAL Group, the training centre and technical services department, currently belonging to flyLALLithuanian Airlines, will be transferred to separate companies registered as flyLAL Training Centre and flyLAL Technics.
Both companies will start operations from May this year.
The completion of new aircraft hangars is slated for May, and due to the significant increase in capacity the Group expects flyLAL Technics' income to rise by 50 percent this year already.
By March, 2007, a new company, Aviation Assets Management will be set up, and the scope of its operations will be announced in the near future.