The shareholders of flyLAL have suggested that the state capitalize the company's debts and in return receive a 41.72 percent stake in the company. In this case, the controlling 58.28 percent stake in flyLAL would still be held by the current shareholders, who would also capitalize loans granted to the carrier. The Ministry of Transport and Communications are reportedly not interested in the offer. However, even as the airline was ready to file for bankruptcy last week China's fourth biggest airline Hainan Airlines expressed an interest in possible investments in flyLAL. The Chinese company submitted an inquiry to the Ministry of Transport about the Lithuanian carrier’s situation and the possibilities to acquire a stake.

 

Kauno Diena, 2009-01-24