The EU transport commissioner Siim Kallas said that it is very unlikely that the EU would finance construction of the Rail Baltica European gauge railroad. According to the commissioner every country has to develop its infrastructure itself, while the EU funds might be allocated to overcome bottlenecks in the process, or for exact projects. Kallas pointed out that the total spending of the EU on transport is a bit more than a EUR 1.0bn per annum, which would be insufficient for project of this magnitude.
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Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
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 ... more