newstodate.aero
May 11, 2011 (newstodate): The Lithuanian ground handling company Litcargus confirms to a strong performance of the Lithuanian airfreight market in 2011.
-Air cargo imports were slowing a bit in growth but are rebounding in volumes now, and airfreight exports from Lithuania are strongly on the rise, says Vidmantas Vaskys, Litcargus CEO.
-In our view, import volumes will definitely reach the levels of 2008 and even 2007, and export volumes are heading for 2007-levels as well, meaning that this market has fully recovered from the recent financial and economic crisis.
-Air traffic was hit severely from the start of 2009 and remained at low levels through parts of 2010, but we are now seeing the return of airlines and flights due to the increasing demands in the Lithuanian markets, boosted by the sound performance of the country's economy.
-Earlier this year, Litcargus found a new owner, Royalton Capital Investors II L.P, and this provide a sound basis for future expansion into neighboring markets. But Litcargus was indeed financially sound all the way and was fully capable of sustaining its existing operations. Only with new owners, we are now in a position to look for new ventures, says Mr Vaskys.
Established in 1993, Litcargus managed by Vidmantas Vaskys as CEO was the first independent, privately-owned ground handling company in Vilnius International Airport, with Lufthansa as its launch customer.
-Air cargo imports were slowing a bit in growth but are rebounding in volumes now, and airfreight exports from Lithuania are strongly on the rise, says Vidmantas Vaskys, Litcargus CEO.
-In our view, import volumes will definitely reach the levels of 2008 and even 2007, and export volumes are heading for 2007-levels as well, meaning that this market has fully recovered from the recent financial and economic crisis.
-Air traffic was hit severely from the start of 2009 and remained at low levels through parts of 2010, but we are now seeing the return of airlines and flights due to the increasing demands in the Lithuanian markets, boosted by the sound performance of the country's economy.
-Earlier this year, Litcargus found a new owner, Royalton Capital Investors II L.P, and this provide a sound basis for future expansion into neighboring markets. But Litcargus was indeed financially sound all the way and was fully capable of sustaining its existing operations. Only with new owners, we are now in a position to look for new ventures, says Mr Vaskys.
Established in 1993, Litcargus managed by Vidmantas Vaskys as CEO was the first independent, privately-owned ground handling company in Vilnius International Airport, with Lufthansa as its launch customer.