April 23, 2020

In a letter to the shareholders, Paavo Nõgene, Tallink’s Chairman of the Management Board explains the contrast between a highly successful year 2019, with the actual situation.

Some highlights:

  • a very successful financial year in 2019
  • Return to the pre-crisis levels of demand will be gradual
  • Active negotiation with lending banks, Estonian Government and other home market Governments
  • Scale down ship operating and maintenance costs as well as other costs of sales and overheads by postponing all the non-critical investments and purchases
  • No dividend