The national carrier of Estonia has been formally declared bankrupt, following a European Commission (EC) decision that it received illegal government aid.
The Baltic states airline closed its doors on Nov. 8, following the EC decision the previous day. This made it liable to repay 85 million ($92 million) it had received in state aid. The state-owned airline had a small fleet of three Bombardier CRJ900s, two CRJ700s and a single Embraer E170, which had been due to leave the fleet in December.
The ruling to declare the airline bankrupt was made in Estonias Harju County Court; the only staff still working for the airline are a few personnel assisting the bankruptcy registrar to…
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