Estonian Air survives – with huge state loans

Total of €57 million from Estonian state since 2009

The Estonian government is preparing to lend flag carrier Estonian Air another €12.1 million as the final part of a much bigger loan promised earlier, Baltic Business News reports. Estonian Air has received a total of €57 million from the state since 2009.

In 2012, the government revealed that it would give a €8.3 million rescue loan to the airline. Another €28.7 million was added in February 2013, €12.1 million of which will soon be paid.

Estonian Air is currently 97.3% owned by the Estonian government and 2.7% by SAS, and has a fleet of seven aircraft flying to 14 destinations.

BBN

[photo courtesy Tallinn Airport]


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