newstodate.aero
Jan 04, 2013 (newstodate): The fate of yet another carrier, Estonian Air is in the balance as a possible pilot strike from January 7, 2013, is drawing near.
The strike over pilots' payments, working conditions and pensions would endanger the very survival of the carrier that is stuck in problems with heavy operational losses at 20 mil euro after the first nine months of 2012, and needs for significant capital injections.
The Estonian state has applied for EU approval of an 8.3 mio euro loan, but the answer from EU will probably require two months of negotiations, while the eventual capital needs for the carrier to get on its feet again is rather within the 50-70 mio euro bracket.
If the carrier has to go, Latvia's airBaltic may eventually emerge as the Pan-Baltic airline with the main Baltic hub at Riga Airport to serve the region's needs for regional and international air transportation.
The strike over pilots' payments, working conditions and pensions would endanger the very survival of the carrier that is stuck in problems with heavy operational losses at 20 mil euro after the first nine months of 2012, and needs for significant capital injections.
The Estonian state has applied for EU approval of an 8.3 mio euro loan, but the answer from EU will probably require two months of negotiations, while the eventual capital needs for the carrier to get on its feet again is rather within the 50-70 mio euro bracket.
If the carrier has to go, Latvia's airBaltic may eventually emerge as the Pan-Baltic airline with the main Baltic hub at Riga Airport to serve the region's needs for regional and international air transportation.