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Friday, 26.04.2024, 18:20
Scandinavian SAS acquired property of Estonian Air for half-value
Danuta Pavilenene, BC, Vilnius, 19.08.2009.
Print version
Print versionThe Scandinavian airline SAS has acquired the office building and the hangar of Estonia's carrier Estonian Air for five million euros, that means the half of the value of the objects, stated in Estonian Air's balance, writes LETA with the reference on BBN, reported via Eesti Paevaleht.
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According to the balance sheet, the value of the sold assets was 168.9 million kroons. Last year, Estonian Air changed the principles of estimating to make the value fairer.
Estonian Air has sold its hangar and office building near Tallinn Airport to Air Maintenance Estonia, which is a subsidiary of SAS.
Estonian state, which has 34% holding in Estonian Air, hasn't supported the move. Representatives of investment bank Cresco, which owns 17%, supported the decision.
SAS said that Estonian Air has reduced its loan burden by selling the buildings.
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