newstodate.aero

Nov 04, 2020 (newstodate): The Estonian aviation group Nordica is expecting to bolster its equity with transfer of the promised state injection of 22 mio euro already this week.
   -The state has made a positive decision on the issue that is granted by the EU, and this will support our sustained activities, says Erki Urva, Nordic Aviation Group CEO.
   -The EU has also agreed to another eight mio euro in the form of a credit line, or loan, and this is now under discussion with the state body Credex handling these issues. We are in a dialogue on this, and it will take some time. But we are in no hurry; we can manage and are quite OK now.
   -It must be stressed that the state support will not allow us to engage in any expansion or new ventures. The support is solely to help us get through this coronavirus pandemic.
   -Before the Covid-19, Nordica was in a good shape and this actually is the background for EU's acceptance of the state aid program that will allow us to cover our losses, says Mr Urva.