Company briefs - 2011-11-10

Latvian national airline airBaltic private shareholder Baltijas Aviacijas Sistemas (BAS) has transferred its full share of airBaltic bailout money to the airline - 14 million lats (20 million euros), BAS board member Inga Piterniece said, reports Nozare.lv. “We are pleased that one of the main tasks for BAS has been done, which will make it possible for airBaltic to solve its current financial problems and continue successful development,” said Piterniece. The state is yet to pay 10.8 million lats into the airline’s bank account. This sum is necessary for the airline to pay for fuel and spare parts, employee salaries, as well as technical upkeep.
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Circulation at the majority of larger Estonian newspapers was smaller in October 2011 than at the same time in 2010, reports National Broadcasting. Postimees is still the biggest daily; its circulation decreased year-on-year by 400 copies to an average of 58,500 copies in September. The average number of printed copies of Ohtuleht fell by 500 copies to 52,600 in a year. Eesti Paevaleht saw its circulation fall by 2,700 to 27,200; Aripaev by 1,000 to 13,500. Among larger weeklies, Maaleht increased circulation by 500 to 42,800. Eesti Ekspress saw circulation fall by 1,000 to 31,000. The peak times of newspapers during recent history date back to the spring of 2007, when Postimees had a circulation of nearly 69,000; Ohtuleht 65,000; Eesti Ekspress 47,000; Maaleht 45,000; Eesti Paevaleht 40,000 and Aripaev 26,000.

The Danish premium audio and video manufacturer Bang & Olufsen has announced intentions to move a part of development positions from Denmark to the Tallinn-based company BO-Soft, reports BBN. Bang & Olufsen is cutting 25 positions in the development center in Denmark, some of which will be moved to the Estonian subsidiary. The company started cooperation projects in Estonia in 2005 and now owns 100 percent of the shares in BO-Soft. BO-Soft’s turnover exceeded 2.3 million euros in its financial year ending on May 31, 2011, which is four percent more against the previous financial year. Profit stood at 315,000 euros, a decrease by 15 percent against 2009/2010. The company has 38 staff.