Vilnius Airport gets funding for new terminal, EY assisted in building compliant investment case.
The European Commission has recently approved a €14.28 million measure to support Lietuvos Oro Uostai, the operator of Vilnius Airport, under EU State aid rules. This funding will be used to construct a new departure terminal at the airport, which will greatly enhance the travel experience for passengers and is a major step forward in the modernization of the airport.
The new terminal is expected to meet future passenger traffic needs, ensure operational safety and reduce passenger congestion. The aid will take the form of a direct grant, and will allow Vilnius airport to serve up to 7.8 million yearly passengers.
In addition to the efforts of the airport, government officials, and other stakeholders, EY played a crucial role in helping the client to build a strong case demonstrating that the planned investment is necessary and appropriate, while at the same time consistent with EU competition regulation (state aid rules applicable to the airport industry). EY experts, working closely with Lietuvos Oro Uostai team helped to ensure that the investment proposal met the necessary standards and requirements set by the European Commission.
The successful approval of the funding for the construction of the new departure terminal is a testament to the hard work and dedication of all those involved in the project. As the construction of the new departure terminal begins, we are excited to witness the benefits that the updates will bring to the travel experience for passengers, as well as the advancement of Vilnius Airport and its beneficial effect on the city of Vilnius.
