The government decided on Thursday to give an additional loan of 16.6 million euros to the troubled national carrier Estonian Air, it appears from a post on the Facebook wall of Stenbock House.
Estonian govt gives additional loan of EUR 16.6 mln to troubled flag carrier
28th February 2013, 17:13
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By the decision the government increased the rescue loan of 8.3 million euros granted to Estonian Air on December 13 last year, which creates the preconditions for successful restructuring of the company, the governmental press service said.
The Ministry of Economic Affairs and Communications will by March 4 at the latest file with the European Commission a state aid permission application to increase the rescue loan to up to 37 million euros.
The government will make further decisions on cash injections into Estonian Air after the airline finishes its restructuring plan.