Estonian Air is reportedly in merger talks with Flybe, according to a report from ERR News. A merged airline would see Flybe own 49% of the shares in the carrier while the Estonian Government would own a 51% controlling stake. Former Estonian Air CEO Andrus Aljas said such a merger would be likely to see Estonia left without much say over the airline, however it would depend on the terms and conditions of the contract. Mr Aljas also said Estonian Air would lose all of its cooperation agreements, such as its agreements with SAS Scandinavian Airlines and KLM. Mr Aljas said, “To round it up, I don't believe the deal would be very positive, but it might stave off the worst possible scenario”. Estonian Government Cabinet reportedly plans to meet on 14-Feb-2013 to discuss Estonian Air’s future.
14-Feb-2013 10:06 AM