Amid rising incomes and optimism about their financial situation, Lithuanians are spending more on food and non-essentials but are increasingly reluctant to dine out due to high restaurant prices driven by rising labour costs and the expiration of pandemic-era tax breaks, LRT reports. While supermarket food sales are boosting economic growth, restaurant turnover has fallen…
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 will close down two more checkpoints on the border with Belarus as of 1 March 2024, BNS reports. Interior Minister Agne Bilotaite said that closing the checkpoints in Lavoriskes and Raigardas would allow authorities to enforce sanctions, prevent smuggling, and screen incoming travellers more effectively. Also, the National Security Commission (NSK) proposed cutting the…
Lithuania’s state-owned railway company, Lietuvos Gelezinkeliai (LTG), has appointed Kristina Meide as CEO of its passenger train operator, LTG Link, for a five-year term, BNS reports. Meide will replace interim CEO Gediminas Seckus. LTG Link’s previous CEO, Linas Bauzys, was appointed CEO of the Ignalina Nuclear Power Plant (IAE) in September 2023. Prior to her…