Main activity generated profit for Estonian Air 2009

Andrus Aljas, CEO of the Estonian national carrier Estonian Air, said that the result of the company’s main activity was moderately positive in 2009.
“Last year’s results are also influenced by extraordinary expenditure due to the reorganisation of the company and adaptation to changes on the market, as well as the return of two aircraft to the lessor,” a spokesman reported Aljas as saying to BNS.
Aljas said that Estonian Air had completed the major activities connected with the reorganisation in May and earned a profit in June 2009. “Also the result of the whole second half of the year was positive,” Aljas said.
This year Estonian Air does not foresee extraordinary expenses in any significant amount.
Aljas said that Estonian Air was still busy looking for the necessary financial opportunities for the purchase of three new aircraft.
“There are different opportunities for the purchase of new aircraft and the company has already received some real offers. We are working with them with the aim of getting as favourable conditions for the company as possible,” Aljas said.
The owners of Estonian Air are Estonia, SAS and the Cresco investment company. Estonia and SAS will next week open talks about the future of Estonian Air. Estonia may consider acquiring the holding of SAS or bringing in a new investor.

Source: Estonian Review

140 000 tourists stayed in hotels in November

According to Statistics Estonia, 14% domestic tourists and 6% foreign tourists less stayed in accommodation establishments compared to November 2008. The number of tourists decreased by all major partner countries. The number of tourists from Russia, which had been in an upward trend throughout the year, decreased 5% in November.

Two thirds of accommodated foreign tourists arrived in Estonia for holidays, about a quarter were on a business trip and the rest had some other reason for visiting Estonia. 44% of Estonian residents using the services of accommodation establishments were on a holiday trip and 37% on a business trip.

28% of tourists using the services of accommodation establishments had chosen an accommodation establishment providing the services of health resorts. In November 39,000 tourists stayed in accommodation establishments providing the services of health resorts, which was 4% more than in November 2008. About a half of served tourists in accommodation establishments providing the services of health resorts were Estonian residents, one third come from Finland, 5% from Sweden and 4% from Russia.

In November 698 accommodation establishments with 16,600 rooms and 36,000 beds were available for tourists. The room occupancy rate was 33% and it was two percentage points less than in November 2008.

The average cost of a guest night in an accommodation establishment was 433 kroons, which was 66 kroons cheaper compared to November 2008.

Accommodation by regions, November 2009
Accommodation Total Northern
Accommodation establishments 698 156 49 62 198 233
Rooms 16 560 8 010 987 895 3 596 3 072
Beds 35 964 16 466 2 030 2 102 8 234 7 132
Room occupancy rate, % 33 37 32 20 32 24
Bed occupancy rate, % 24 28 27 15 24 16
Tourists accommodated 139 579 85 348 7 635 5 410 21 326 19 860
Nights spent 256 658 137 543 16 732 9 590 58 069 34 724
residents of Estonia 90 444 22 010 11 766 7 652 24 100 24 916
foreign visitors 166 214 115 533 4 966 1 938 33 969 9 808
Average cost of a guest night, kroons 433 506 437 397 313 355

Foreign trade deficit amounted to 1.2 bEEK in November

According to the preliminary data of Statistics Estonia, in November 2009 exports of goods from Estonia amounted to 9.1 billion kroons at current prices and imports to Estonia made up 10.3 billion kroons. The decline in exports and imports slowed down.

As in the period of January-October 2009 the average monthly decline of exports was 26% and of imports 36%, then in November exports declined only 8% (0.8 billion kroons) and imports 21% (2.7 billion kroons). Deceleration in the decline was also related to the rapid decrease of trade, which began in November 2008 due to economic crisis, and because of which the comparative base in November 2009 was lower than in previous months.

Exports increased by 2% and imports 5% compared to October 2009.

In November, the foreign trade deficit amounted to 1.2 billion kroons, which was 2.6 times less compared to November 2008.

In November the value of goods exported from Estonia to the European Union (EU27) countries was 6.2 billion kroons, accounting for 68% of Estonia’s total exports. Compared to November 2008, exports to the EU27 countries decreased by 12% (by 0.9 billion kroons). Exports from Estonia to non-EU countries or the so-called third countries amounted to 2.9 billion kroons, which is 2% more compared to November 2008.

In November, imports from the European Union (EU27) countries to Estonia totalled 8.7 billion kroons with the share of 85% of Estonia’s total imports. Imports from the EU countries decreased by 10% compared to November 2008. Imports from the third countries amounted to about 1.6 billion kroons, which is twofold less compared to November 2008.

The foreign trade deficit with the European Union countries amounted to 2.5 billion kroons (2.6 billion kroons in November 2008). At the same time, the trade balance with other countries than the EU was positive or exports to these countries exceeded imports by approximately 1.3 billion kroons.

Estonian foreign trade, January 2008 – November 2009
Diagram: Estonian foreign trade, January 2008 – November 2009

Statistics Estonia releases the first estimates about foreign trade on the 40th day after the end of the reference period which are then revised on the 54th day. Statistics Estonia will release a more detailed overview of the foreign trade for November on the 25th of January.

Source: Statistics Estonia