newstodate.aero
Mar 31, 2010 (newstodate): Finalization of the delivery scheme for three Bombardier aircraft to Estonian Air remains a pending issue.
The carrier is to receive three ex-factory CRJ900 NextGen aircraft to replace most of its current fleet of Boeing 737 aircraft.
According to the original plan, Estonian Air was to take delivery of its new aircraft one by one in rotation: the first one by the end of May 2009, the second by the middle and third one by the end of June, 2009.
-There are really two inter-related issues at stake, says Andrus Aljas, Estonian Air president &CEO.
-One issue is the uncertainty about the future ownership structure of the airline as negotiations between SAS that wants to divest of its 49 percent of the airline's shares and the Estonian government has still not reached a conclusion.
-The second issue is of course the ongoing financial strains in the aftermath of the global crisis. This has reduced the re-financing options available in the market, and financial institutions require certainty about ownership issues as one factor in their risk assesment.
-As things turned out, the original delivery scheme was indeed bad timing as demand in the market for capacity fell due to the crisis, so we do not deplore the delay too much.
-On the other hand I certainly expect both issues to find a conclusion well before the end of this year, says Mr Aljas.
The carrier is to receive three ex-factory CRJ900 NextGen aircraft to replace most of its current fleet of Boeing 737 aircraft.
According to the original plan, Estonian Air was to take delivery of its new aircraft one by one in rotation: the first one by the end of May 2009, the second by the middle and third one by the end of June, 2009.
-There are really two inter-related issues at stake, says Andrus Aljas, Estonian Air president &CEO.
-One issue is the uncertainty about the future ownership structure of the airline as negotiations between SAS that wants to divest of its 49 percent of the airline's shares and the Estonian government has still not reached a conclusion.
-The second issue is of course the ongoing financial strains in the aftermath of the global crisis. This has reduced the re-financing options available in the market, and financial institutions require certainty about ownership issues as one factor in their risk assesment.
-As things turned out, the original delivery scheme was indeed bad timing as demand in the market for capacity fell due to the crisis, so we do not deplore the delay too much.
-On the other hand I certainly expect both issues to find a conclusion well before the end of this year, says Mr Aljas.