newstodate.aero

Jun 04, 2020 (newstodate): 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.
   -Nordica presented its business plan in week 21, and we are expecting the feedback from the owner within two or three weeks. But the political decision to support Nordica with 30 mio euro has already been confirmed. So there are only some practical things left to do, Toomas Uibo, Nordica Head of Marketing and Communication, told newstodate in a mail on May 26.
   But no details have yet been disclosed on the content of the new business plan, and according to Estonian media the company still has not received any financial support from its owner, the Estonian state.
   In the meantime, the Latvian carrier airBaltic is building up its traffic at Tallinn Airport again, leaving increasingly little room for Nordica to enter the scheduled flights market to secure Estonia's air connectivity.