Fate of Nordica to be sealed within few months in 2024

Published: 03-01-2024 Fate of Nordica to be sealed within few months in 2024

Jan 03, 2024 (newstodate): The fate of the Estonian aviation group Nordica is to be decided within the coming few months, a ministerial source told media by year-end.
   - If Nordica cannot be sold within the next few months, it may not be able to continue operations. We cannot rule out the difficult decision to shut down the company, a state official said in an interview with ERR.
   Talks are now undertaken with seven potentially interested European airlines and parties, and plans are to reach an understanding with one of these within this month already.
   The Estonian state is prepared to sell the company comprising XFly and Nordic Aviation Group either as one package or in parts, while the similarly state-owned aircraft leasing company Transpordi Varahaldus is not currently up for sale, while still poised for privatization at a later stage as well.
   Headquartered in Tallinn, the Nordica group operates flights under two brands, two IOSA-certified AOC’s - XFLY operating nine ATR72-600 and nine CRJ900 and Nordica operating four A320 aircraft.
   Xfly and Nordica has been operating within the framework of long-term ACMI partnerships with SAS, TAP and MARABU and for the summer 2023 with Cyprus Airways.

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