newstodate.aero
Dec 19, 2008 (newstodate): Lithuania's troubled carrier, flyLAL may return to state ownership in a quest to survive.
According to Lithuanian sources, not confirmed by the debt-ridden airline, the carrier's shareholders have offered their stakes to the state at a token price.
Rumours have long circulated in the country that flyLAL is heading a total collapse during this winter period.
The carrier is also to reduce the number of aircraft in its fleet and suspend services during the winter period to several destinations.
flyLAL remained the only Baltic carrier without SAS ownership, but has been engaged in a fierce competition with Latvian carrier airBaltic that has set up its second hub at Vilnius, Lithuania, and opened flights to other Lithuanian destinations as well.
According to Lithuanian sources, not confirmed by the debt-ridden airline, the carrier's shareholders have offered their stakes to the state at a token price.
Rumours have long circulated in the country that flyLAL is heading a total collapse during this winter period.
The carrier is also to reduce the number of aircraft in its fleet and suspend services during the winter period to several destinations.
flyLAL remained the only Baltic carrier without SAS ownership, but has been engaged in a fierce competition with Latvian carrier airBaltic that has set up its second hub at Vilnius, Lithuania, and opened flights to other Lithuanian destinations as well.