newstodate.aero
May 16, 2013 (newstodate): The new Lithuanian carrier under formation, Air Lituanica has obviously found it hard to attract investors.
Originally, the carrier's charismatic driving force - the mayor of Vilnius, Mr Zuokas - said that "49 percent of the stake in the carrier would be held by a "strategic partner", indicating cooperation with another carrier.
Returning from a visit to South America in late April 2013, Mr Zuokas then told Lithuanian reporters that he had managed to establish contact with SA business partners that might be willing to enter as "strategic investors".
At the latest press conference in Vilnius this month, it was finally revealed that 83 percent of the airline's shares will be held by Vilnius municipality via a company Start Vilnius, with the remaining 17 percent belonging to Air Lituanica Group, comprising 15 private investors.
So much for the "strategic partner".
In its stead, citizens of Vilnius and Lithuanian tax-payers will foot the bill for launching another Baltic carrier.
Originally, the carrier's charismatic driving force - the mayor of Vilnius, Mr Zuokas - said that "49 percent of the stake in the carrier would be held by a "strategic partner", indicating cooperation with another carrier.
Returning from a visit to South America in late April 2013, Mr Zuokas then told Lithuanian reporters that he had managed to establish contact with SA business partners that might be willing to enter as "strategic investors".
At the latest press conference in Vilnius this month, it was finally revealed that 83 percent of the airline's shares will be held by Vilnius municipality via a company Start Vilnius, with the remaining 17 percent belonging to Air Lituanica Group, comprising 15 private investors.
So much for the "strategic partner".
In its stead, citizens of Vilnius and Lithuanian tax-payers will foot the bill for launching another Baltic carrier.