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International Internet Magazine. Baltic States news & analytics Monday, 25.03.2019, 12:18

Estonian Air updates survival plan

BC, Tallinn, 20.08.2014.Print version
The council of Estonian national carrier Estonian Air approved on Tuesday of the company's new restructuring plan, which was forwarded to the Ministry of Economic Affairs and Communications, who should in turn send it to the European Commission's Competition Office, LETA/Postimees Online reports.

Estonian Air CEO Jan Palmer said that no major changes were made to the restructuring plan, but a development vision was added to the survival plan – what happens with the company after it has survived.

 

While so far, the plan existed up until 2017, now plans for the year 2018 were added. The company still plans to be in profit in 2016. In the development vision, the company sees the opportunity to add some new core destinations in Europe or the East, the CIS states.

 

In addition, Palmer estimates that it is realistic that Estonian Air could be the carrier providing passengers for one or two large European airlines.

 

The European Commission is still examining if the financial injection that the state granted Estonian Air to rescue it during crisis years was in permitted state aid limits or not. Submitting the new plan was the requirement of the European Commission. The decision from Europe can come at the end of the year the earliest.






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