The Estonian Ministry of Transport wants to decide in January 2024 to whom the financially struggling airline Nordica will be sold. According to a report by the ERR, negotiations are said to be ongoing with a total of seven European companies.

It currently looks like the state-owned Nordic Aviation Group could be broken up. The intra-group lessor Transpordi Varahaldus is not to be sold. We also reserve the right that the ACMI and charter company Xfly could change hands separately.

Interested parties can purchase both Nordica and Xfly as well as Nordica or Xfly. It has been clear for some time that the Estonian government wants to withdraw from the operation of ACMI and charter airlines. The debacle surrounding the cooperation between Nordica and Xfly, which has since been dissolved, has only accelerated the government's exit efforts.

If discussions with potential buyers do not result in a contract being concluded, Nordica will be threatened with closure. The Ministry of Transport made it clear that it would not spend any additional tax money to keep the airline in the air. The situation is different at Xfly, because this company at least covers its costs. For those interested, Xfly could be more interesting, but also more expensive than Nordica.

In September 2023, Estonia's Court of Audit announced that the aviation activities of the state-owned Nordic Aviation Group were not exactly productive. It was suggested to the government that it should separate from Nordica, Xfly and Transpordi. In addition, a special audit was started at Nordica to investigate how losses could have exploded in 2023.