Estonian government and SAS battle for national carrier

TALLINN - As the push to inject funds into floundering national carrier Estonian Air tightens, both the Estonian government and SAS have announced a desire to buy out the other"s stake and become the majority shareholder. On Thursday Nov.

27 Prime Minister Andrus Ansip announced that Scandinavian Airlines (SAS) had sent a letter to the Estonian government stating that, due to Estonian Air"s current liquidity crisis, a cash injection was needed imminently to ensure the airline"s survival. In t.

The article you requested can be accessed only by subscribing to the online version of The Baltic Times. If you are already subscribed to The Baltic Times, please log on using the form on the top of the page. If you don't have a membership yet - please subscribe.

Source http://baltictimes.com/news/articles/21884/

All articles

Christmas Market in Tallinn - among the best in Europe

The UK news portal Times Online compiled a list of the best Christmas Markets in Europe where the Christmas ambience is the best and the traditional market on the Tallinn Town Hall Square was among them, writes EPL Online/LETA.

The Christmas Market in the Old Town of Tallinn is described as a heart-warming cosy place in the piercing Baltic winter. “There is a giant Christmas tree in the middle of the market, surrounded by more than 50 specifically designed sales stalls. Visitors can admire and purchase the works of handicraft masters from all over Estonia,” stated the overview.

The Christmas Market on the Town Hall Square in Tallinn is the only one marked in the article which operates until January 7th.

All articles

Estonia sees GDP falling 3.5 pct next year

However, the ministry is banking on growth to return in 2010 with an expansion of 2.6 percent, although that is smaller than the forecast of 5.7 percent it issued in August. We expect growth to return in 2010 if export growth picks up with positive economic growth in our trade partners,' the ministry said in a statement. The ministry forecast inflation next year at 4.2 percent, down from a previous outlook of 6 percent.

Inflation is expected to hit 10.6 percent this year and 2.8 percent in 2010. This would bring the rate in line with EU criteria for euro adoption in 2011. But it is clear joining the euro zone won't just happen. We will have to make some tough decisions and be single minded in implementing them,' Finance Minister Ivari Padar said. The key to restoring economic growth and adopting the common currency is in sensible forward-looking economic and fiscal decisions,' he added.

After years of budget surpluses, the forecasts now expect a deficit of around 2 percent of GDP on average up to 2012. The ministry gave the forecasts as part of its updated convergence report to the European Commission, but the numbers will also make the government cut the budget for 2009 further. With 75 percent of the budget, including defence spending, determined by the size of GDP, lower growth forecasts cap spending to keep the deficit below 3 percent of GDP.

All articles