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. Last Updated: 07/27/2016

U.S.-Lithuania JV Set

MOSCOW () -- The Lithuanian government has backed the proposal by the country's Transport Ministry to set up a joint venture with U.S. firms Northwest Airlines and Baltic International USA to repair Boeing and Tupolev aircraft, a news agency reported Tuesday.

Under the project, the two American airlines would acquire a 60 percent stake in the venture, which would have an initial charter capital of $12 million.