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SAS discusses Estonian Air capital increase

Juhan Tere, BC, Tallinn, 21.11.2011.Print version
SAS AB, the Nordic region’s biggest airline, is in talks with the Estonian government on whether the company will participate in a capital increase for the Estonia-based national airline Estonian Air, Eesti Paeevaleht was quoted by Bloomberg.

The Estonian carrier should be able to negotiate "much better" terms with Canada's Bombardier Inc. to buy new aircraft than in a previous transaction two years ago, the Tallinn-based newspaper Paevaleht reported referring to Tero Taskila, Estonian Air's chief executive officer, writes LETA.


As reported, Estonian government said earlier in November it would inject 30 million euros into state-owned Estonian Air to renew its fleet in a drive to bolster business.


The government said that if Estonian Air's shake-up helps boost numbers in the future, extra tourism revenues could hit 60 million euros a year.


The government has held a 90-percent stake in Estonian Air since June 2010, when it struck a deal with Scandinavian carrier SAS, which now holds 10%.

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