newstodate.aero

Jun 17, 2020 (newstodate): According to Estonian media ERR, the Polish carrier LOT is to divest of its ownership in the Estonian ACMI company Xfly, earlier named Regional Jet, a subsidiary of Nordica.
   After this, LOT Polish Airlines' 49 percent stake since November 2016 is expected to be acquired by the Estonian state that will then become its sole owner.
   Established in 2015, Xfly offers offering regional flight and aircrew services for airline companies.   
   Xfly employs 260 people in Tallinn, 150 in Denmark, 60 in Sweden, and an additional 35 specialists in other countries.   
   With a fleet planned to grow in 2020 to seven Embraer 190/195, 12 Bombardier CRJ900, and nine ATR72-600 aircraft, Xfly's customer portfolio includes European airlines SAS, LOT, Luxair, AirSERBIA, and flybe.
   Uncertainty still surrounds the Estonian company Nordica waiting for green lights for the state to throw in a life-line in the form of a much-needed cash injection.
   The Estonian government is willing to inject EUR 30 mio into the company on certain conditions: one is to set up a Holding Company with Nordica, Xfly and the leasing arm Transpordi Varahaldus as sister companies; another is that Nordica must present a convincing business plan to the government.
   While Nordica claims to have met all three preconditions, the state infusion of money requires approval from the EU Commission, still pending.