Airport, Estonia, Financial Services, Legislation, Transport

The ministry's recent spring economic forecast states that "the most important financing transactions that affect the cash flow in a negative way are in the year 2013 the 59.5 million euro payment to the European Stability Mechanism (ESM) and the increase of equity capital of Estonian Air by 58 million euros."

"The decision to increase the equity capital of Estonian Air hasn't been made but the forecast has presumed, being conservative, the approximate maximum that the company could need and that the state potentially has to finance," said Finance Ministry spokesman Rainer Laurits, adding that this is an assumed sum that is in the range that the company has also referred to.

Estonian Air's council chairman Erkki Raasuke said that he doesn’t know where the ministry got this figure. He said that of the 50-70 million euro range that has been mentioned earlier, less, rather than more, has to be provided in reality.

The actual sums become clear after the European Commission makes a decision on the possibility of granting state aid.