Bankruptcy proceedings for the financially stricken Lithuanian airline Small Planet Airlines have been launched, with information from the Center of Registers showing that Vilnius Regional Court initiated them on January 7. Small Planet Airlines CEO Kristijonas Kaikaris said the move was aimed at securing protection from creditors as the company no longer received revenue after…
The Vilnius-Kaunas motorway will be turned into a highway over the next two years and will see the maximum speed increased from 110 to 130 km/h during summertime. The project is valued at around 65.6 million euros. Road safety measures as well as speed control and warning systems will be installed along the whole road…
Lithuania has acquired additional combat and training missiles for the Norwegian medium-range aid defense systems NASAMS it is buying from Norway, Lithuania’s Ministry of National Defense said. Due to security reasons, the ministry does not disclose either the volume of the additional missiles, or the price, only saying that the total value of the purchase,…
The Lithuanian government gave the go-ahead for the Defense Ministry to develop military bases in the city of Siauliai and in the districts of Silale and Vilnius on a public-private partnership (PPP) basis. A total of up to 165 million euros at net present value are planned to be allocated for the military bases, which…
The Lithuanian Seimas has passed the state budget for 2019, which includes more funds for defense, while not taking into account the funding demands of striking teachers. Canadian-British news agency Reuters reports that the state budget was passed in the Seimas on December 11, with revenues expected to be 17.2 billion euros and spending at…
The trade turnover between Ukraine and Lithuania in 2017 increased by more than 40% YoY and in January-September 2018 – by more than 17%, Ukraine’s First Vice Prime Minister – Minister of Economic Development and Trade Stepan Kubiv wrote on his Facebook page. “I’m participating in the 4th Ukrainian-Lithuanian Economic Forum, which gathered over 400…
Lithuania’s National Commission for Energy Control and Prices approved new around 15% higher power prices for households for 2019. Under the most popular “standard” plan, the single time interval tariff will rise by 15%, or by 1.7 cents, to 13 cents per kWh. In the case of the dual time interval, the day tariff will…