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Estonian Air receives another 17 mln euros from the government
BC, Tallinn, 28.02.2013.
Print version
Print versionThe 8.3 million euros rescue aid granted by the Estonian government to the national carrier Estonian Air at the end of last year lasted for less than three month and thus the government decided on Thursday to grant the carrier 16.6 million euros more, LETA/Public Broadcasting reports.
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The government also decided that the economy ministry will submit to the European Commission by March 4 latest the application for state aid permit for increasing rescue aid to Estonian Air to up to 37 million euros.
The state can allocate two kinds of aid, rescue aid or restructuring aid. So far, permission from the European Commission has been asked for rescue aid; the initial application was for 8.3 million euros. Now the economy ministry wants to increase the rescue aid to 37 million euros.
The company is still working on the restructuring plan. Restructuring aid application will submitted to the European Commission when the plan is completed and the government has certainty that it will take the company into profits in five years.
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