OREANDA-NEWS.  May 13, 2013. At its latest cabinet session the Government has acknowledged the restructuring plan approved by the supervisory board of Estonian Air.

The Ministry of Economic Affairs and Communications will submit state aid permission as an application to the European Commission.
The company has received capital on market conditions until the rescue aid loan, which was granted in December 2012, extended thereafter and must be repaid to the owner in the course of restructuring.

The plan that will be submitted to the Commission will reduce the company to a limit whereat it is strong enough to cover the destinations that are essential to the Estonian population but financially independent.

The restructuring plan calls for the recapitalisation of Estonian Air in the amount of 40.7 million euros, which is less than initially anticipated.