Estonia is ready to create a new airline should the European Union rule that the existing national flag carrier illegally received state aid, a decision that would put it out of business.
Economics Ministry spokesman Mihkel Loide said Tuesday that EUR40.7 million (US$46 million) have already been earmarked as an initial capital for a new, fully state-owned carrier.
Under the plan, domestic and foreign investors would be allowed at a later stage.
Since 2009, Estonia has injected nearly 60 million euros of capital into Estonian Air to keep it flying. It carried 404,000 passengers in the first eight months of 2015 with a fleet of five planes.
The EU's executive Commission is expected to rule later this year or early 2016.
On July 8, Tecnam participated in the official inauguration of new terminal at Rome Urbe Airport, an event hosted by Italian Civil Aviation Authority (ENAC) and ENAC Servizi to present the f...
FlyBy Aviation Academy announced two graduation ceremonies held during the month of June, marking the finish line for a combined total of 33 new pilots, as well as the start of a new ATPL cl...
SkyDrive announced the conclusion of a MoU with Japan Biz Aviation Co. SkyDrive currently holds a cumulative total of 427 aircraft orders from partners in Japan and overseas (the order...
GOL Linhas Aéreas launched new nonstop service between Rio de Janeiro (GIG) and New York (JFK), marking the airline's first long-haul international route. The service began with inaugu...
