newstodate.aero
Jan 11, 2010 (newstodate): An Estonian state delegation is now in Stockholm to negotiate the future ownership situation for Estonian Air.
SAS acquired a 49 percent state in Estonian Air from Maersk Air in September 2003 and has earlier been rejected by the Estonian state in its bid to take over a majority stake in the airline.
After this rejection, SAS has announced its decision to pull-out entirely from ownership in Estonian Air where other stake holders are the Estonian state with 33 percent and the investment group Cresco with 17 percent.
Estonian Air has amassed considerable debts and has relied on capital injections from SAS in 2009.
SAS acquired a 49 percent state in Estonian Air from Maersk Air in September 2003 and has earlier been rejected by the Estonian state in its bid to take over a majority stake in the airline.
After this rejection, SAS has announced its decision to pull-out entirely from ownership in Estonian Air where other stake holders are the Estonian state with 33 percent and the investment group Cresco with 17 percent.
Estonian Air has amassed considerable debts and has relied on capital injections from SAS in 2009.