newstodate.aero
Jul 31, 2014 (newstodate): While the outgoing EU Commissioner managed to clear his table as to investigations into a spree of airlines including airBaltic, SAS and LOT, at least one Baltic carrier is still kept in uncertainty.
Estonian Air has to stick within the restraints of its restructuring plans until the investigation over alleged illegal state support has been concluded which is expected by end of 2014 or early 2015, meaning that the issue till eventually be dealt with by a new, yet-unnamed EU commissioner.
The EU Commission initialed its probe into Estonian Air in February 2013, expanding it in April 2013 and again in February 2014.
In the meantime Estonian Air is burdened by payments of interest on loans provided and other restructuring costs, as well as costs from two excess aircraft, while being unable to expand business under the current conditions.
Talking to newstodate earlier in the year, the carrier's CEO, Jan Palmer confirmed that the outcome of the EU probe is certainly crucial to the carrier's future.
-If the EU Commission should rule that Estonian Air must repay the state loans, that would spell the end of the carrier, Mr Palmer said.
Estonian Air has to stick within the restraints of its restructuring plans until the investigation over alleged illegal state support has been concluded which is expected by end of 2014 or early 2015, meaning that the issue till eventually be dealt with by a new, yet-unnamed EU commissioner.
The EU Commission initialed its probe into Estonian Air in February 2013, expanding it in April 2013 and again in February 2014.
In the meantime Estonian Air is burdened by payments of interest on loans provided and other restructuring costs, as well as costs from two excess aircraft, while being unable to expand business under the current conditions.
Talking to newstodate earlier in the year, the carrier's CEO, Jan Palmer confirmed that the outcome of the EU probe is certainly crucial to the carrier's future.
-If the EU Commission should rule that Estonian Air must repay the state loans, that would spell the end of the carrier, Mr Palmer said.