Estonian investment holding company Infortar has announced a voluntary takeover offer to acquire all remaining shares of shipping and tourism group Tallink Grupp for EUR 0.55 per share, GlobeNewswire reports. Infortar currently owns 46.76% of Tallink’s shares and seeks to acquire the remaining 53.24%. The offer period runs from 2 July 2024 to 5 August…
Estonian bus operator Lux Express has opened a night-time bus service between Estonia’s second-largest city, Tartu, and the Latvian capital, Riga, BNS reports. The daily bus departs from Tartu at 11:15pm and arrives at Riga International Airport at 4:20am. In addition, Lux Express has a morning and an evening departure from Tartu to Riga, and…
Airports Council International (ACI) has announced Estonia’s Tallinn Airport as the best European airport in the category of airports with 2-5 million passengers in 2023, BNS reports. At the same time, ACI awarded Tallinn Airport for being the most enjoyable, easiest, and cleanest airport in Europe. ACI has awarded Tallinn Airport for high-quality services six…
Nearly half (45%) of Estonians have seen their financial situation worsen in the past year, according to a Norstat poll for SEB in December 2023, BNS reports. Consumers are therefore cutting back on expenses, including by taking advantage of discounts (62%), planning purchases more carefully (49%), and eating out less often (45%). Other cost-saving measures…
Latvia’s national airline, airBaltic, posted an all-time record revenue and profit in 2023, LSM reported. The company’s annual turnover amounted to EUR 668mn, which was up 33.6% from EUR 500mn in 2022. The carrier’s net profit stood at EUR 34mn, which was up from a loss of EUR 54mn a year earlier. The company will…
The Estonian government has failed to include a project to open a regular passenger train connection between Tartu and the Latvian capital, Riga, in its long-term budget plans for 2025-2027, ERR reports. The government points to concerns about a competing Latvian proposal that would entail lower costs but less convenient departure times. Nevertheless, the government…
Lithuania’s Foreign Ministry has proposed extending current restrictions on Russian and Belarusian citizens for another year until May 2025, BNS reports. Under the proposal, the restrictions on Belarusians would be tightened but not completely to the level imposed on Russian nationals. Belarusian citizens arriving in Lithuania with Schengen visas would undergo extra risk assessments and…
Greece’s national air carrier, Aegean Airlines, will open direct flights from Lithuania’s Vilnius International Airport to Athens in April 2024, LRT reports. The company will have two flights per week on the new route until the end of October 2024, using Airbus A320 aircraft. Aegean Airlines has not previously operated regular flights in Lithuania, airport…
Lithuanian tour operator Novaturas Group’s total revenue amounted to EUR 208mn in 2023, which was up 6% from EUR 197mn in 2022, GlobeNewswire reported. The group served around 259,000 customers in 2023, which was down from 267,000 a year earlier. Novaturas Group appointed Kristijonas Kaikaris as its new CEO in December 2023. Prior to his…