newstodate.aero

Mar 19, 2024 (newstodate): Already in February 2024, the Estonian government approved the final step towards divesting of state ownership in Nordica.
   The process is now managed by the Estonian Ministry of Climate, cleared to negotiate with potential bidders for a take-over of all shares in the company, today fully-owned by the state.
   There are reportedly several non-binding offers, and the completion of the privatization process was earlier expected to be reached in early March once a viable binding offer is on the desk.
   This is however obviously not the case
   While no details on the claimed bidders have been released, airBaltic has confirmed that it will not be among the contenders.
   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.