Latvian full-service aircraft leasing company
SmartLynx Airlines will cease operations as of Monday, November 24, the company announced in a statement to the media.
The LETA agency reported that at the end of October, a legal protection case was initiated against SIA "SmartLynx Airlines" and a legal protection plan agreed with creditors had to be submitted to the court by February 28, 2026.
On October 28 this year, SmartLynx Airlines had a tax debt of 522,126 euros registered with the State Revenue Service (VID).
Before that, in October this year, the owners of SmartLynx Airlines changed - the company was acquired by the company's management and a specialized investment fund based in the Netherlands.
The Dutch Stichting Break Point Distressed Assets Management currently owns 90% of SmartLynx Airlines' shares, while 5% each is owned by Lithuanian citizens Mindaugas Kazakevičius and Demenius, who are members of the company's board.
Previously, the sole owner of the company was SIA "Smart Aviation Holding", which belongs to "Avia Solutions Group", the true beneficiary of which is Lithuanian business tycoon Gediminas Žiemelis, according to information from "Firmas.lv".