Estonian Air's Loan Repayment Date Extended ({{commentsTotal}})


The Cabinet has extended the repayment date of Estonian Air's 37-million-euro rescue loan.

The new deadline is set for 2018 at the latest, or alternatively whenever the European Commission delivers a decision on the government's proposed restructuring plan for the company, which could take several years.

In February, the government agreed to issue the airline a loan in installments. Additionally, the government has proposed a 40.7-million-euro bailout for the restructuring plan that the European Commission is in the process of reviewing.

Last year, the company reported having accumulated massive losses, leading to the firing of its former CEO, as well as major cuts in staff and fleet. The government has resisted bankrupting the carrier, however, saying its operations are of national importance.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.

Ermamaa: The fine art of passing the buck

Admit nothing, blame everyone: those most closely involved in the Ermamaa case don’t need arguments, writes ERR News editor Dario Cavegn.