Company briefs

  • 2010-06-10

CEO of Estonian Air Andrus Aljas stated that the most important objective for the company in the short-term is to create a flight route network where 30 of the most popular destinations in Europe would be accessible from Estonia, reports Postimees Online. Currently, Estonian Air flies to nearly 20 direct flight destinations. The airline is moderately optimistic about the developments this year. Passenger numbers in the first few months of the year indicate that the decline is stabilizing. In terms of new destinations, Estonian Air is planning to launch the Tallinn-Athens route on July 5. Work is also ongoing in preparing for launching other new destinations.

From July 1, SE Sampo Life Insurance Baltic will be renamed Mandatum Life Insurance Baltic SE, reports LETA. The company reported that the main reason for the name change is the implementation of the strategy of the Finland-based parent company Mandatum Life Insurance Company Limited in the Baltic States; the new strategy will be targeted towards asset management. The Baltic subsidiary has been focused on offering investment solutions through life insurance for the past couple of years, but from July the joint business strategy for the entire Mandatum Life Group will be concentrated under the same brand name.
 
Swedbank is considering merging its subsidiary banks in the Baltic States with the parent company, reports National Broadcasting. “From the point of view of capital management, the most reasonable solution in business terms is to merge the Baltic subsidiaries directly with the parent company Swedbank,” explained Swedbank’s head of Baltic banking, Hakan Berg. “The objective of the change is to release the group’s managing director from having to lead the subsidiary’s management and subsidiaries, which is the substance of the everyday work for me as the head of the Baltic division,” explained Berg. Currently, Swedbank banks in Latvia and in Lithuania are the subsidiaries of the Estonia-based subsidiary.