Lietuvos Oro Uostai, which manages Lithuania’s three international airports, reported a 74-percent y-o-y increase in profits in 2015. The state-owned company said it netted a profit of €2.1m last year. Revenues came in at €24.5m, up 12 percent from 2014. Aviation operations generated €15.3m, up 10 percent y-o-y. The passenger volume at all the airports in Vilnius, Kaunas and Palanga increased by 11.3 percent to 4.2 million people. “The efficiency of operations is improving (…) We are ensuring financial stability not only by raising our revenues but also by managing operational costs,” Lietuvos Oro Uostai’s CEO, Gediminas Almantas, said in a statement.
