Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company stood at EUR 91.5mn in 2012, up from EUR 76.1mn. Costs of acquisition of new airplanes and development of new routes in 2012 amounted to EUR 26mn. Jan Palmer, CEO of Estonian Air, said that the companys board has changed the airlines strategy from growth oriented carrier to regional point to point airline. The company is currently in restructuring to become a regional airline with 10 core destinations. |
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more
Nordea has raised its Lithuanian GDP growth forecast to 4% in 2013, from the previous estimate of 3.3% last September. It expects Lithuania's economy to expand by 4.2 percent in 2014, up from the ... more