On June 2, Lithuania’s Parliament, the Seimas, approved a draft law that will enable three state-owned airports to be managed by private concessions. The three Lithuanian gateways, Vilnius, Kaunas and Palanga handled 4.2 million passengers and 50,000 flights in 2015.
According to Lithuania’s Minister of Transport and Communications, Rimantas Sinkevičius, the concession project will not only help Lithuania develop the airports but also achieve significant results on the Baltic market. “The value of the aviation sector for the country’s economy is tremendous. I believe that this project will become another success story and enable successful competition with other Baltic states which have not yet taken this step,” said Minister Sinkevičius.
The airports will remain as state property but will be maintained and improved from private funds.
Gediminas Almantas, CEO of Lithuanian Airports said the move to introduce a privately-operated management company was: “Indeed a remarkable achievement for all of us. The concession model is the best option for our market in order to develop the business activities of the Lithuanian airports from a strategic perspective. By virtue of the best-practice model, we will expand the development of the Lithuanian air transport sector and turn it towards a long-term strategy. I believe that in partnership with an experienced operator, we will become the leaders in the Baltic region.”