Shipper’s biggest shareholder Infortar makes conditions
Infortar, the biggest shareholder of the Estonian shipping company Tallink, says it is willing to buy the struggling and radically downsized flag carrier Estonian Air.
But it will do so only if the state takes over the airline’s debts and if European Commission allegations that the carrier has received illegal state aid are resolved, Infortar CEO Ain Hanschmidt explained.
The chairman of the supervisory board of Estonian Air, Ahti Kuningas, commented that the wish of a private investor to invest in the airline should show the European Commission that the €24.9 million the government has placed in Estonian Air is not unlawful.
A modified restructuring plan for Estonian Air has just been submitted to the European Commission. If it is approved, Infortar could make an investment in the airline in spring 2015.
[photo courtesy Tallinn Airport]