SAS Group currently has 2.66% stake in Estonian Air
Juhan Parts, Estonia’s longstanding economy minister, has accused policies at SAS for being at the root cause of the financial difficulties currently being faced by the country’s flag carrier. Many of the problems plaguing Estonian Air today were caused by SAS when it has a substantial stake the Estonian carrier, writes the Estonian business daily Äripäev.
SAS sold most of its 49% stake in the long-struggling carrier in 2010. However, SAS Group still retains a small 2.66% stake, with the rest owned by the Estonian state.
“I have not said it until now, but I can say now that in my opinion many of the issues of financial solvency at Estonian Air date back to earlier times,” Parts said in a parliamentary session in Tallinn. “But I believe that the decisions made at that time […] were probably made in good faith.”