Lithuanian Airports (LTOU) is launching two public land lease auctions from 31 October, both of which have been formed and prepared for potential tenants in the south-western part of Vilnius Airport. It is said that these plots could be used for the construction of hangars for the development of aircraft Maintenance Repair and Overhaul (MRO) activities.
The two separate plots available for auction cover an area of 11 200 square metres and 4 700 square metres.
According to LTOU representatives, the current development is only the first step in the improvement of this area of the capital's airport, as the total expected potential of this area is around 4 hectares, with a total of 6 separate plots for lease for various activities.
In addition to the plots to be leased at this stage, LTOU plans to develop all the necessary infrastructure over the next few years, including new apron surfaces for aircraft movements, as well as investments in improving the ground transport routes.
"We have clearly stated in our organisational strategy that we aim to promote an attractive business environment at our airports and to invest in the development of the necessary infrastructure. By analysing the market, we plan new projects taking into account the needs of potential partners for business development, which in the long term guarantees not only diversification of revenues, but also faster growth of non-aviation revenues. At the same time, we are well aware that by developing this type of activities we can attract new investments and stimulate further growth of aviation traffic," comments Gintarė Norvilaitė-Tautevičė, Head of the Commercial Department.
The two plots available on the market will be leased for a 40-year term.
The final number of bidders for both auctions will be known on 4 December, and the winners will be announced in Q1 2025.