Estonia, EU – Baltic States, Legislation, Mergers and take-overs, Tourism, Transport

"Estravel, which nearly 28 years ago was founded by Estonian private capital, is once again fully owned by Estonians," Takis said in a press release. "The market share of Estravel on the Estonian airplane tickets' market has been 31-34 percent for many years and Estravel's turnover is bigger than the turnovers of the next four biggest competitors' combined," he added.

For the past 20 years Estravel belonged to the group of the Finnish national carrier Finnair. As of Tuesday the company is once again fully owned by Estonians. Takis was so far a shareholder in the company and a member of the board. One of the owners of the company is also member of the board Anne Samlik.

According to Takis Finnair will also in the future be an important partner of Estravel and no major changes are planned to be carried out in the company.

The deal was confinanced by Danske Bank and the price will not be disclosed.

In 2014, Estravel's turnover amounted to 6.3 million euros and profit 686,000 euros. The company had an average workforce of 153 people whose wage expenditure totaled 2.8 million euros.