The loss of Estonia’s national carrier Estonian Air reached 10-11 million euros in the first half of the year as the new business model has not started working successfully.
Last week the company said that it will reduce the number of office staff and flight connections but has refused to reveal its loss figures, Eesti äevaleht writes.
A former council member of Estonian Air said that the new business model has not started working and thus the state should decided if the carrier should produce profits or fly to major destinations since both options are not possible with the company’s size, the location and population figure of the state.
The company’s manager Tero Taskila said that Estonian Air reveals its audited financial results once a year after the supervisory council has approved of them.
“It is important to understand what the possibilities and difficulties are to preserve direct flight connections. Estonian Air is going through a transition period now to secure its future which means major investments. Implementing the new strategy is under way and the new business model is stabilising,” said Taskila.
The joint candidacy of Latvia and Denmark to host the 2017 World Ice Hockey Championship was declined by the International Ice Hockey Federation's Congress on May 17.
The search that was carried out by the Corruption Prevention and Combating Bureau on May 16 at the Transport Departments of Riga City Council is linked to the passenger carrying services in the capital.
In 2012, in Latvia there were 133 active combined heat and power (CHP) plants with total electrical capacity 1021.0 megawatts (MW).
President Francois Hollande of France seeks reduction of unemployment in his country, by pushing the EU to increase spending in order to cut youth unemployment in Europe. He has also noted that recession is now «threatening the very identity of Europe».
Latvian bath manufacturer PAA has finished its production plant modernization project in Kekava. As a result the company managed to create an innovative new material – Silk Stone.
While drafting an amendment proposal for Data protection directive, protection of fundamental rights collides with business interests, and just as evidently – political and ideological divisions collide between European Parliament political groups.
With the setting of the first days of May, warm weather gradually came to Latvia. The average air temperature in the first half of May was 2.7° C above the norm. The summer-like weather will only increase in the second half of May – heat and thunderstorms are equally expected, meteorologists predict.
The bosses of oil giants engulfed in a price fixing scandal could be jailed if they are found guilty, David Cameron warned on Thursday, May 16.
The organizers of the First Riga Economic Forum have decided to cancel the participation of Paul Krugman in the event.
On Wednesday, in Washington, U.S. President Barack Obama announced that the commissioner of the Internal Revenue Service (IRS) had been ousted after claims of the agency's special scrutiny to conservative groups. An IRS team had been subjecting applications for tax-exempt status of conservative groups to a greater degree of review than those from other organizations.
The Latvian state budget is suffering enormous losses because the saving of drowning companies attracts financial consultants not by means of open contests, but based on the fact whether or not they are related to the ruling political party, experts believe.
Google’s I/O conference keynote was, in many ways, the opposite of what we expected. Google did not announce any new hardware, nor did the company reveal a new version of Android. Instead, Google spent about half of its annual developers conference focusing on developers and the tools they need to make better apps.
In the first quarter of this year the volume of goods exported at current prices increased by 117.1 million LVL or by 7.7%, but at the same time volume of imports – only by 25.8 million LVL or by 1.3% as compared to the first quarter of the previous year.
The unemployment of young people is a serious problem faced in Latvia, as unemployment among youth is notably higher than in other age groups, as it can be concluded based on the Labour Force Survey results compiled by the Central Statistical Bureau of Latvia.
Smoking voids a child's right for a healthy and clean environment. This is considered abuse against the child, says Latvian Healthcare Ministry's parliamentary secretary Liene Cipule. This is the ministry representative's commentary on the decision of the Saeima Human Rights and Social Affairs Commission to submit and amendments project for review in the Saeima. This project includes amendments to the Children's Rights Law about banning smoking in the presence of children.
On Tuesday, Moscow has expelled an American diplomat over an attempt to recruit an FSB officer to work for the CIA. Although the alleged spy has been caught red-handed, Russian Foreign Affairs Ministry and U.S. State Department avoid inflammatory language.
- Estonia's unemployment at 10.2% in Q1
- Slow-down in Estonia’s growth expected
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- Estonian PM: Lithuanians need a new referendum | 1
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- Opinion: Estonians are selling their work too cheaply | 1
- Estonians to develop four office buildings in Vilnius for EUR 44m
- Global IT report ranks Estonia 22nd, Lithuania 32nd, Latvia 41st
- Violations uncovered in Estonian fur farm
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- Economic Diary. The state overcame the crisis, the people did not
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Ilmars @ 2013-05-17 16:48:38
The censorship of a Nobel Prize winning , world class economist is what this conference will be remembered for . Expect a mountain of negative publicity for Latvia . This conference is run by a bunch of hicks .
Well @ 2013-05-17 11:44:03
As always @ 2013-05-17 11:23:22
JPR @ 2013-05-17 09:46:45
JPR @ 2013-05-17 09:46:14