Company briefs - 2009-07-02

Jul 02, 2009

Lithuanian-based company Star1 Airlines has announced plans to restore air connections between Vilnius and London, Dublin and Barcelona. The move follows the decision from the Civil Aviation Administration (CAA) to restore the company's carrier certificate. The Transport Ministry has also granted the company a new commercial flights license. The first regular flight to London is due to take place on July 3. Star1 Airlines also has plans to expand regular flights to other European cities including Paris and Milan after adding a second aircraft to its fleet, according to Star1 Airlines CEO Martynas Laivys. Last month it emerged that discontinued direct flights to and from Vilnius combined with a slowing economy was behind a dramatic drop in tourism numbers.

Ambient Sound Investments (ASI), the investment company of Skype's four Estonian founding engineers, has made an investment in leading Web application security provider Armorize Technologies. The company, which is headquartered in Santa Clara, California, has been responsible for developing technically advanced automated tools to combat world-wide Web security issues. The ASI investment group was founded in 2003 with the view to managing and investing the assets of Skype's founding developers. The company has financed dozens of international technology start-up companies from its own funds.

Japanese plant Yazaki Wiring Technologies Lietuva, which several years ago used to be one of the largest employers in Klaipeda region, has announced plans to sell off its buildings and looking for smaller premises. The future of the plant, which is not currently receiving new orders, is vague and the possibility it may have to be closed has not been ruled out. The company, which initially employed some 3,500 people, now has a workforce of just 160, about 300 women are on maternity leave and about 100 people are on working visits abroad.

forgot password?