Lithuanian Airports investment: aiming for post-pandemic recovery

SE Lithuanian Airports has signed a EUR70 million loan agreement with the Nordic Investment Bank for the modernisation of Vilnius (the capital), Kaunas (second city) and Palanga (resort town) airports. The 15-year loan will finance the renovation of Lithuania's three primary airports.

The tourism potential for Lithuania is considerable - in 2019 tourists were mainly from Germany, Poland and Russia, increasing their traffic by 9%, 11.4% and 7.1% respectively. The average growth rate for the top 30 countries in 2019 was 11.3%.

The project envisages the renovation of the existing Kaunas International Airport terminal, the construction of a new departure terminal in Vilnius, and the renovation of the existing arrival terminal. The project is expected to double Vilnius International Airport capacity from 3.5 million to 7.8 million passengers per annum.