EE: Estonian Air to return excess Embraer airplanes.

By bne IntelliNews March 21, 2013
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and downsizing its operations in late 2012. Ilona Eskelinen, spokesperson for the company said that the aircrafts were ordered, but not yet delivered. The company indicated that it needs up to EUR 8.0mn to pay contractual penalties for the excess airfleet. Estonian Air has four Embraer E170 that it does not use after the restructuring. The airline announced that it needs EUR 37mn for restructuring.

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