Estonian Air Regional purchased by Fortaero
We advised AS Estonian Air in the sale of its 100% subsidiary AS Estonian Air Regional to Fortaero BBAA OÜ.
Estonian Air Regional, formerly operating regular passanger flights to Helsinki, St Petersburg, Tartu and Kuressaare had ceased its former business operations in the course of the ongoing restructuring of the Estonian national airline. The company had no employees or material assets and returned all its aircrafts to the lessors, but held a valid air operator certificate. Following the transaction Estonian Air Regional will not continue its former operations. Instead, the new shareholder will change the name of the company and use the legal stucture for setting up its own air services.
Partner Tõnis Tamme and attorney-at-law Sten Veidebaum provided the legal assistance to AS Estonian Air in connection with the negotiations and legal execution of the transaction.