newstodate.aero
Feb 20, 2013 (newstodate): Time is running out for a decision on the future of Estonian Air.
The carrier has reportedly been granted one week, expiring by the weekend, to come up with a final plan for restructuring, and a convincing time-frame for a return to profitability.
Based on this plan, the Estonian government will make up its mind whether to allow the carrier to continue or to let it go bankrupt.
In either case, the future for Estonian Air seems to hinge on a close cooperation with a strategic partner while tailoring operations to match market needs and potentials.
So far, the regional low-cost operator Flybe has been seen as a potential partner in talks with Estonian Air and its state owner, but spokespersons have been keen to stress that other partners may be in the picture as well.
Steering Estonian Air since November 1, 2012, is Jan Palmer as CEO, who brings in abundant experience from recent airline bankruptcies including the Danish carrier Cimber Sterling and the Swedish Skyways.
Mr Palmer brought with him as consultants his former management partner in Skyways, Mikael Wangdahl as well as a retired senior aviation specialist Kjell Fredheim, who was in the top management of SAS in the 80'ies.
The carrier has reportedly been granted one week, expiring by the weekend, to come up with a final plan for restructuring, and a convincing time-frame for a return to profitability.
Based on this plan, the Estonian government will make up its mind whether to allow the carrier to continue or to let it go bankrupt.
In either case, the future for Estonian Air seems to hinge on a close cooperation with a strategic partner while tailoring operations to match market needs and potentials.
So far, the regional low-cost operator Flybe has been seen as a potential partner in talks with Estonian Air and its state owner, but spokespersons have been keen to stress that other partners may be in the picture as well.
Steering Estonian Air since November 1, 2012, is Jan Palmer as CEO, who brings in abundant experience from recent airline bankruptcies including the Danish carrier Cimber Sterling and the Swedish Skyways.
Mr Palmer brought with him as consultants his former management partner in Skyways, Mikael Wangdahl as well as a retired senior aviation specialist Kjell Fredheim, who was in the top management of SAS in the 80'ies.