newstodate.aero
Jan 02, 2013 (newstodate): Airline industry news from the Baltic states of Estonia and Latvia pointed in different directions at the turn of the year.
In Latvia, the country's national carrier airBaltic confirmed its basically positive outlook by firming up its order for delivery of 10 Bombardier CS300 aircraft, starting by Q4, 2015.
In addition to the firm order, airBaltic also holds options for a further 10 CS300 aircraft.
And based on its latest reports, the carrier aims to return to profitability in 2014 through the efforts from its ReShape program cutting cost, streamlining the organization and fine-tuning the route network by investing capacity in routes with highest potentials and profitability.
airBaltic is also amidst a process of recapitalization through a sale of up to 49 percent of its stake to an investor, after being again fully state-owned since December 2011.
The deadline of this process was November 1, 2012, for attracting non-binding expressions of interest for a stake of up to 50 percent minus one share, but so far airBaltic has not made any announcement on the outcome of the process.
In Estonia, the situation for the national carrier Estonian Air seems to in a stalemate pending EU's approval of another state investment in the carrier allowing for simple short-term survival.
The carrier has announced a fare-well to lofty plans for turning Tallinn Airport into a hub, and is instead reining in on routes, cutting costs, reducing the workforce and holding back on decisions affecting its future aircraft fleet that was to be boosted with new aircraft orders.
Expectations are that the EU decision will be announced within the first two months of this year.
On top of it all, Estonian Air pilots have called for a strike early next week, further threatening the survival of the airline.
At the helmet of the airline since November 1, 2012, is Jan Palmer that brings in abundant experience from recent airline bankruptcies including the Danish carrier Cimber Sterling and the Swedish Skyways.
In Latvia, the country's national carrier airBaltic confirmed its basically positive outlook by firming up its order for delivery of 10 Bombardier CS300 aircraft, starting by Q4, 2015.
In addition to the firm order, airBaltic also holds options for a further 10 CS300 aircraft.
And based on its latest reports, the carrier aims to return to profitability in 2014 through the efforts from its ReShape program cutting cost, streamlining the organization and fine-tuning the route network by investing capacity in routes with highest potentials and profitability.
airBaltic is also amidst a process of recapitalization through a sale of up to 49 percent of its stake to an investor, after being again fully state-owned since December 2011.
The deadline of this process was November 1, 2012, for attracting non-binding expressions of interest for a stake of up to 50 percent minus one share, but so far airBaltic has not made any announcement on the outcome of the process.
In Estonia, the situation for the national carrier Estonian Air seems to in a stalemate pending EU's approval of another state investment in the carrier allowing for simple short-term survival.
The carrier has announced a fare-well to lofty plans for turning Tallinn Airport into a hub, and is instead reining in on routes, cutting costs, reducing the workforce and holding back on decisions affecting its future aircraft fleet that was to be boosted with new aircraft orders.
Expectations are that the EU decision will be announced within the first two months of this year.
On top of it all, Estonian Air pilots have called for a strike early next week, further threatening the survival of the airline.
At the helmet of the airline since November 1, 2012, is Jan Palmer that brings in abundant experience from recent airline bankruptcies including the Danish carrier Cimber Sterling and the Swedish Skyways.