newstodate.aero
Sep 15, 2015 (newstodate): Estonia is now making cautious preparations to cope with the eventual verdict from the EU Commission on Estonian Air.
If the ongoing investigation by the Commission on the legality of the Estonian state's financial grants to Estonian Air should end up with a negative outcome, seen from Estonia's side, Estonian Air will be declared bankrupt as it will be unable to repay the financial support received.
Plans are therefore to allocate state means to a fund that would enable the establishing of a new state-owned carrier to fill the void after the demise of Estonian Air.
If the EU verdict goes in favor of Estonian Air, the carrier will continue its lean strategy that has secured this summer's profitable operations and cleared the road towards a break-even in 2016.
If the ongoing investigation by the Commission on the legality of the Estonian state's financial grants to Estonian Air should end up with a negative outcome, seen from Estonia's side, Estonian Air will be declared bankrupt as it will be unable to repay the financial support received.
Plans are therefore to allocate state means to a fund that would enable the establishing of a new state-owned carrier to fill the void after the demise of Estonian Air.
If the EU verdict goes in favor of Estonian Air, the carrier will continue its lean strategy that has secured this summer's profitable operations and cleared the road towards a break-even in 2016.