From 29 May 2007, conditions for the granting of an air carrier license are no longer contained in domestic law. Instead, EU regulations apply, stipulating that community air carriers must be majority owned and effectively controlled by EU Member States and/or nationals of EU Member States (Regulation (EEC) No. 2407/92, subsequently repealed and replaced by Regulation (EC) No 1008/2008 in 2008).
"Article 56 . Operating license:
1 . The carrier must have a license issued by the Ministry of Transport or the CAA authorized by it.
[...]
2 . Expired 2007-05-29 .
[...]
3 . The license provided for in paragraph 1 shall be issued to the carrier in accordance with Council Regulation (EEC) No. 2407/92 on licensing of air carriers.
[...]"
(Aviation Law (17 October 2000, No.VIII-2066; as amended by law of 10 May 2007, No. X-1117), Article 56 [google translation])

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"Article 4
1. No undertaking shall be granted an operating licence by a Member State unless:
(a) its principal place of business and, if any, its registered office are located in that Member State; and
(b) its main occupation is air transport in isolation or combined with any other commercial operation of aircraft or repair and maintenance of aircraft.
2. Without prejudice to agreements and conventions to which the Community is a contracting party, the undertaking shall be owned and continue to be owned directly or through majority ownership by Member States and/or nationals of Member States. It shall at all times be effectively controlled by such States or such nationals.
[...]"
(Regulation (EEC) No 2407/92 of 23 July 1992 on licensing of air carriers, Article 4)
Aviation Law (17 October 2000, No.VIII-2066; as amended by law of 10 May 2007, No. X-1117), Article 56
Regulation (EEC) No 2407/92 of 23 July 1992 on licensing of air carriers, Article 4
[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.112075/xbDosXaEYu">Law</a>],[<a href="https://eur-lex.europa.eu/legal-content/FR/TXT/?uri=CELEX%3A31992R2407">Regulation</a>]