Company briefs - 2013-06-13

The new airline Air Lituanica and its commercial partner Estonian Air have started selling direct and joint flight tickets, reports ELTA. Under an agreement with Estonian Air, Air Lituanica will offer flights to more than a hundred cities, offering three types of tickets: Eco Travel, Flexi Travel and Club. The first three routes will be served by the 76-seat Embraer 170 aircraft which was leased from Estonian Air. The joint flights will be operated by Estonian Air or its partners. From June 30, flights from Vilnius to Brussels will be launched, and from July 8, Air Lituanica will operate daily flights to Amsterdam, with flights to Berlin starting on Aug. 5. Air Lituanica was founded by the Vilnius city government and a group of businessmen, and is expected to create about 1,500 jobs.

The European Investment Bank (EIB) will help Lithuania build its Klaipeda-based liquefied natural gas (LNG) terminal, reports ELTA. The bank will issue a long-term loan to fund the project. On June 4, the EIB’s board approved the application of state-owned Klaipedos Nafta, and offer 300 million litas (86 million euros) in a long-term loan for the funding of the LNG terminal construction. The terminal is expected to be completed in late 2014. “The European Investment Bank is our longtime partner, which helped Lithuania to implement major infrastructure projects and use structural support funds from the EU more efficiently. Now, with the bank’s support, we will strengthen our nation’s energy independence,” said Minister of Finance Rimantas Sadzius.

In spring 2013, sales of summer manor homes were more active in Estonia than in previous years, reports news portal dv.ee. Russian citizens show a lot of interest toward real estate of this kind in Estonia, albeit properties that are mostly in good condition. The market for these ‘cottages’ has always been active, to a bigger or lesser extent, and now it experiences a strong rise. “The market for summer houses in Haapsalu, Parnu and in southern Estonia showed some activity during the crisis, because even then some people were able to buy a dwelling. They made good bargain purchases,” Peep Sooman, Pindi Kinnisvara’s board member, said. According to him, interest towards summer manors has skyrocketed.