newstodate.aero
Dec 09, 2013 (newstodate): Air Lithuania is now taking Estonian Air to the Stockholm Chamber of Commerce over debts allegedly owed by its former partner.
-On 28 November 2013, Estonian Air unilaterally terminated its commercial cooperation agreement with Air Lituanica, carrying a debt of LTL 6.2 million of income received for flights already performed by Air Lituanica and for deposits paid. Immediately after the termination of the agreement, the debt was estimated at LTL 5.7 million, and was later updated, says Air Lituanica.
-In addition, Air Lituanica claims damages suffered from the unlawful unilateral termination of the agreement with Air Lituanica. By preliminary estimations, Air Lituanicas additional damages amount to LTL 1.2 million. The total amount of additional damages will be updated.
-The decision to address the Stockholm arbitration was made after Estonian Air failed to pay its debt to Air Lituanica immediately after the termination of the agreement, as required by the terms of the agreement, says the Lithuanian carrier.
Estonian Air earlier said that on Monday 25 November, Air Lituanica did not meet its deadlines for advance payment for flight services for December.
-We cannot disclose the specific number, but do again stress that Air Lituanica was repeatedly in breach of agreements, i.e. payments on time, since the start of the agreements, said Estonian Air in a statement on the issue.
-On 28 November 2013, Estonian Air unilaterally terminated its commercial cooperation agreement with Air Lituanica, carrying a debt of LTL 6.2 million of income received for flights already performed by Air Lituanica and for deposits paid. Immediately after the termination of the agreement, the debt was estimated at LTL 5.7 million, and was later updated, says Air Lituanica.
-In addition, Air Lituanica claims damages suffered from the unlawful unilateral termination of the agreement with Air Lituanica. By preliminary estimations, Air Lituanicas additional damages amount to LTL 1.2 million. The total amount of additional damages will be updated.
-The decision to address the Stockholm arbitration was made after Estonian Air failed to pay its debt to Air Lituanica immediately after the termination of the agreement, as required by the terms of the agreement, says the Lithuanian carrier.
Estonian Air earlier said that on Monday 25 November, Air Lituanica did not meet its deadlines for advance payment for flight services for December.
-We cannot disclose the specific number, but do again stress that Air Lituanica was repeatedly in breach of agreements, i.e. payments on time, since the start of the agreements, said Estonian Air in a statement on the issue.