{"id":23669,"date":"2022-01-18T11:15:54","date_gmt":"2022-01-18T09:15:54","guid":{"rendered":"https:\/\/www.visit-palanga.lt\/?post_type=naujiena&p=23669"},"modified":"2022-04-14T11:17:34","modified_gmt":"2022-04-14T08:17:34","slug":"lithuanian-airports-are-preparing-to-become-a-limited-liability-company-preparations-to-be-completed-in-the-first-half-of-2022","status":"publish","type":"naujiena","link":"https:\/\/www.visit-palanga.lt\/en\/new\/lithuanian-airports-are-preparing-to-become-a-limited-liability-company-preparations-to-be-completed-in-the-first-half-of-2022\/","title":{"rendered":"Lithuanian Airports are preparing to become a limited liability company: preparations to be completed in the first half of 2022"},"template":"","class_list":["post-23669","naujiena","type-naujiena","status-publish","hentry"],"acf":{"naujiena_1_nuotrauka":23670,"naujiena_1_aprasymas":"Lithuanian Airports should be changed from a state-owned enterprise (SOE) to a limited liability company by the end of 2022. According to the airports\u2019 representatives, the change is planned to take place sooner - all efforts are being made to complete the interim preparations within the first half of this year, and the company will become a limited liability company in the middle of this year. The reform is being implemented on the basis of decisions by the Government and the Seimas, as well as recommendations by the Organisation for Economic Co-operation and Development (OECD) to reduce political influence in state-owned enterprises.<\/strong>\r\n\r\n\"\"\r\n\r\n \r\n\r\n\"The application of good governance principles in the public sector was one of the main recommendations of the OECD\u2019s proposal to review, simplify and harmonise the legal forms of state-owned enterprises. In essence, for us as an organisation, this does not only mean changes in internal processes or management, but also opens the way for us to optimise some of our activities, to be more flexible in our asset management decisions, which are currently taking too long, and to be able to have alternative sources of funding in the future,\" says Indr\u0117 Kunig\u0117lyt\u0117, the Head of the Department of Finance and Administration of Lithuanian Airports.\r\n\r\nOne of the most important future governance changes in the implementation of this decision relates to the strengthened role of the Board in the management of the airports - the Board will elect the Head of the company and approve the company\u2019s strategy, and some of the other management functions currently attributed to the Ministry of Transport and Communications will be redistributed and delegated according to the level of responsibility within the organisation.\r\n\r\nIt should be noted that even after the future change of Lithuanian Airports into a limited liability company, all the shares of the organisation will be owned by the state.\r\n\r\nInvestment alternatives and more efficient asset management<\/strong>\r\n\r\nWhen Lithuanian Airports becomes a limited liability company, there will be more opportunities to raise more forms of capital - not only to borrow from banks or to receive state funds.\r\n\r\n\u201cLithuanian Airports, like other members of \u201cACI Europe\u201d, have clearly agreed that environmental protection and the reduction of carbon dioxide emissions is one of the most important strategic objectives in all the organisation\u2019s activities. As we continue to develop certain larger projects at airports, we will be able to start discussing the possibilities of \"green\" financing alternatives and the application of new instruments with potential that have already been tested in the financial market,\u201d comments Indr\u0117 Kunig\u0117lyt\u0117.\r\n\r\nIt is claimed that becoming a limited liability company will also allow for the establishment of subsidiaries and better coordination of risks in the management of airport business, the possibility of entering into joint operating agreements and the provision of new services, which means that it will be easier to adapt to the needs of the market and generate a better return for the State.\r\n\r\nFocus on national security<\/strong>\r\n\r\nEnsuring national security remains a key priority in the implementation of the changes in airport governance, so even if the company\u2019s legal status changes, the company will remain on the list of companies of national security importance and the infrastructure will remain on the list of assets of national security importance.\r\n\r\nIt will also continue to review the company\u2019s transactions and the compliance of its employees with national security interests.\r\n\r\nAs the sole shareholder in the management of the airports, the State\u2019s participation will be aimed at increasing the value of the business and the return to the budget, safeguarding national security and the State\u2019s objectives and interests. The State will receive a return through the payment of dividends and the reinvestment of the airports\u2019 accumulated profits in strategic projects as a limited liability company.\r\n\r\nAbout Lithuanian Airports\u00a0<\/strong>\r\n\r\nThe network of Lithuanian Airports includes three air gates in Vilnius, Kaunas and Palanga.\r\n\r\nwww.ltou.lt<\/a><\/em>"},"_links":{"self":[{"href":"https:\/\/www.visit-palanga.lt\/en\/wp-json\/wp\/v2\/naujiena\/23669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.visit-palanga.lt\/en\/wp-json\/wp\/v2\/naujiena"}],"about":[{"href":"https:\/\/www.visit-palanga.lt\/en\/wp-json\/wp\/v2\/types\/naujiena"}],"version-history":[{"count":1,"href":"https:\/\/www.visit-palanga.lt\/en\/wp-json\/wp\/v2\/naujiena\/23669\/revisions"}],"predecessor-version":[{"id":23673,"href":"https:\/\/www.visit-palanga.lt\/en\/wp-json\/wp\/v2\/naujiena\/23669\/revisions\/23673"}],"wp:attachment":[{"href":"https:\/\/www.visit-palanga.lt\/en\/wp-json\/wp\/v2\/media?parent=23669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}