newstodate.aero

Aug 12, 2020 (newstodate): At long last, the EU Commission has given its green light for the Estonian state to throw a lifeline to the Estonian company Nordica.
   The Estonian government can thus 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.
   Of the total of 30 mio euro, 22 mio euro take the form of a share capital increase, while the remaining eight mio euro will be a subsidized interest loan to the company.
    In the meantime, the Latvian carrier airBaltic is building up its traffic at Tallinn Airport, leaving increasingly little room for Nordica to enter the scheduled flights market to secure Estonia's air connectivity.