newstodate.aero

Nov 25, 2020 (newstodate): According to Estonian media, the Estonian airline group Nordica and the Polish carrier LOT have completed their amicable negotiations over the future of Nordica's subsidiary Xfly, earlier trading as Regional Jet.
   The decision have been made to end LOT's part-ownership of the Xfly by the end of this month, which was among the preconditions for releasing the state aid in support of the Nordica Group's recapitalization.
   Since November 2016, LOT has owned 49 percent of the stake in the capacity provider Xfly, established in 2015, to offer regional flight and crew services for airline companies.
   Also part of the restructuring of Nordica underlying the conditions for state aid, the leasing company Transpordi Varahaldus will be merged with Nordica after completion of negotiations with the banks currently holding the loans and bonds of the leasing company.
   Also in the pipeline is Nordica's application for an own AOC that will grant the company with status as an independent airline with an own airline code replacing the current dependency on LOT's code.
   Finally, Nordica will develop its own Amadeus commercial platform replacing LOT Polish Airlines' platform used since November 18, 2016.