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Estonian gov’t praises Nordica, confirms €30mn aid

The Estonian government has confirmed that it will inject EUR22 million euros (USD27 million) into the share capital of flag carrier Nordica (ND, Tallinn Lennart Meri) and will additionally transfer a loan of EUR8 million (USD10 million), economy minister Taavi Aas revealed at a press conference.

Aas said he had received authorisation from the government to provide the Covid-combating state aid, which already has the blessing of the European Commission. The package will be formalised once discussions on acquiring LOT Polish Airlines’ 49% stake in Nordica’s ACMI/charter subsidiary Xfly (EE, Tallinn Lennart Meri) have concluded.

He said at the December 3 news briefing, as quoted by bne IntelliNews: “As a result of a discussion in the cabinet today, the specifications will be clarified and I very much hope that an additional session of the government will take place [soon] in which the allocation of funds will be decided.”

He added: “Nordica has found a niche and is offering strong competition with its presence. With this support, it can recover better and stronger.”...

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