An Estonian court has formally declared the Baltic nation’s state-owned airline bankrupt after it ceased operations last month following a European Union order to repay millions in state aid.
The Harju County Court said Tuesday that the bankruptcy proceedings for Estonian Air are to be carried out immediately, with the first meeting of creditors scheduled on Jan. 15.
The EU’s executive Commission said on Nov. 7 that Estonia had breached EU rules by injecting capital into the ailing carrier for years. The Commission obliged the airline to pay back 85 million euros plus interest to the Estonian taxpayers.
The Estonian government earlier this year established a new airline, Nordic Aviation Group. It started operations immediately after the EU’s decision.
Azerbaijan Airlines expanded its fleet with another state-of-the-art Airbus A320neo aircraft. The introduction of the new aircraft is aimed at providing passengers with more comfortable and moder...
Lufthansa Technik Philippines, the joint venture between Lufthansa Technik and the MacroAsia Corporation, is significantly expanding its footprint in the Philippines with a new base maintenance facili...
ProLogium announced the signing of a MoU with Elysian Aircraft BV, a Dutch aerospace company developing large-scale battery electric aircraft and core electrification technologies for aviation. U...
Dassault Aviation Falcon 10X has successfully completed its first flight, demonstrating the program’s maturity and marking the launch of the flight test campaign.Test Pilot Sébastien...
