newstodate.aero
Oct 30, 2014 (newstodate): The state-owned Estonian Air, struggling to keep afloat in a difficult environment, seems to be heading for a privatization on Estonian conditions.
The major shareholder of Estonia's passenger shipping company Tallink as well as stakeholder in other travel-related businesses, Infortar has declared its interest in acquiring all shares in the carrier, including the 10 percent stake still held by the airline's former major shareholder SAS.
The deal will, however, depend on a positive outcome of the ongoing investigation by EU over alleged illegal state subsidies to the carrier - a court ruling still pending.
The Estonian Air Supervisory Council has this month approved of a revised restructuring plan on the basis of the potential agreement, and this plan will be forwarded to the EU Commission on October 31, 2014
If this new plan is approved, the road is cleared for Infortar and Estonian Air to proceed towards a sale, still provided the issue is confirmed by the Estonian Parliament.
The major shareholder of Estonia's passenger shipping company Tallink as well as stakeholder in other travel-related businesses, Infortar has declared its interest in acquiring all shares in the carrier, including the 10 percent stake still held by the airline's former major shareholder SAS.
The deal will, however, depend on a positive outcome of the ongoing investigation by EU over alleged illegal state subsidies to the carrier - a court ruling still pending.
The Estonian Air Supervisory Council has this month approved of a revised restructuring plan on the basis of the potential agreement, and this plan will be forwarded to the EU Commission on October 31, 2014
If this new plan is approved, the road is cleared for Infortar and Estonian Air to proceed towards a sale, still provided the issue is confirmed by the Estonian Parliament.