Company briefs - 2009-04-15

  • 2009-04-15
Estonian Air is continuing to fight for its survival amid forecasts its income could drop by up to 30 percent, LETA reported. According to the company's predictions passenger numbers could fall from 15 to 30 percent. "Currently majority of Estonian companies do not not fight for profit, but rather for survival. And it refers to us," said Andrus Aljas, the CEO of Estonian Air. SAS, the biggest shareholder of Estonian Air is currently selling its 49 percent stake in the company and there is speculation Tallink is interested in buying out the shares. Aljas believes aviation profits will start rise in line with economic recovery. "Estonian Air is moving to efficiency, despite setbacks. Our sustainability has grown with couple of past months decisions. It's approved by owners' decision to raise share capital," said. Aljas.

Estonian water management company Tallinna Vesi has concluded a 313 million kroon loan agreement with Nordic Investment Bank, the company has reported. Negotiations over the loan started in June 2008. Securing the loan will enable Tallinna Vesi to complete its three year network extensions program for 2008-2010. Tallinna Vesi's Chairman of the Management Board Ian Plenderleith said the investments will significantly improve quality of drinking water and provide better access to the modern wastewater disposal services by connecting approximately 3,500 households to the Tallinn water and sewerage system.

Ukio Bankas has been ranked among the highly-appraised banks, according to an opinion poll of banking clients. The campaign "Praise Excellent Service" is aimed at attracting public attention to the quality of customer service in the Baltic States. Clients were offered the chance of praising specialists by filling in questionnaires, making a phone call or sending an SMS. All information was then calculated and a list of top 10 companies was selected. Within the month-long campaign about 100,000 responses were received from clients of Lithuanian companies and agencies. This year, 46 enterprises, agencies and organizations participated in the campaign.