newstodate.aero
Mar 12, 2013 (newstodate): The latest deadline for Estonian Air to deliver its long-awaited restructuring plan has now been reset for April 18, 2013.
The restructuring plan was originally slated for completion by January 31, 2013, but later delayed till February 21 - when it was again decided to postpone the date by another week due to the announcement by the EU Commission of the launch of an investigation into alleged illegal and repeated state-aid for Estonian Air.
This added further heat under the ailing carrier from fears of having to repay the state financial injections if they are found to run contrary to EU regulations.
In the meantime Estonian has reduced its flights program to comprise only 10 key destinations while seeking to cut also its aircraft fleet from currently 10 to only five aircraft.
The restructuring plan was originally slated for completion by January 31, 2013, but later delayed till February 21 - when it was again decided to postpone the date by another week due to the announcement by the EU Commission of the launch of an investigation into alleged illegal and repeated state-aid for Estonian Air.
This added further heat under the ailing carrier from fears of having to repay the state financial injections if they are found to run contrary to EU regulations.
In the meantime Estonian has reduced its flights program to comprise only 10 key destinations while seeking to cut also its aircraft fleet from currently 10 to only five aircraft.