01-09-2023

Lithuanian Airports change legal status to joint stock company

As of 1 September, the legal form of Lithuanian Airports is changing  the state-owned company has become a joint stock company. The planned transformation follows one of the main recommendations of the Organization for Economic Co-operation and Development (OECD)  to apply the principles of good governance in the public sector. The State will continue to hold all shares in the company.

According to the company's representatives, these changes will provide the organisation with new opportunities to improve the management of its processes, and will give it more flexibility and speed in making operational decisions.

The changes are also linked to the aim of managing the assets entrusted to the State more efficiently and generating higher returns for the State.

Transparency and national security continue to be the priorities of the company managing the network of Vilnius, Kaunas and Palanga airports.

The company is on the list of undertakings of national security importance and the infrastructure remains on the list of facilities and assets of national security importance, and therefore the company's transactions and employees will continue to be subject to screening for compliance with national security interests.