newstodate.aero

Feb 22, 2024 (newstodate): The Estonian government has now approved the final step towards divesting of state ownership in Nordica.
   The process will be managed by the Estonian Ministry of Climate that is thus cleared to negotiate with potential bidders for a take-over of all shares in the company, today fully-owned by the state.
   According to media, there are several non-binding offers, and the completion of the privatization process could be reached in early March once a viable binding offer is on the desk.
   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.