Estonian Air Posts Worse Than Expected 6 Month Results ({{commentsTotal}})

The government has announced a plan to set up a backup carrier in case Estonian Air goes bust. Source: (Postimees/Scanpix)
Business
Business

The national carrier reported a 5-million-euro loss in the first half of 2014. Although the loss was 18 percent smaller than during the same period last year, CEO Jan Palmer said the figures are below expectations.

The state-owned company recorded a 32.9 million euro turnover, down 8 percent compared to the first half of 2013.

“The result of the second quarter is on the same level as in the same period last year, but nevertheless we expected to see more positive results,” Palmer said in a press release today. “During the second quarter Estonian Air has continued to perform in line with the restructuring plan, but in addition we must now intensify measures in response to harsher market. Competition in Tallinn Airport has become tougher as new carriers have entered the market and we have been influenced by continuing uncertain situation in Ukraine resulting in lower passenger volumes on Kiev route and lower transit passengers volumes flying from Europe to Russia.”

Palmer said passenger numbers were slightly below what was forecast, adding that the figures for June and July were more positive. A total of 260,000 people flew with Estonian Air from January to the end of June.



{{c.alias}}
{{c.createdMoment}}
{{c.body}}
{{cc.alias}}
{{cc.createdMoment}}
+{{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
{{comment.captcha.word.answer}}

news.err.ee

Opinion
Independence Day: Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

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.