State will transfer funds to Nordica next week

Nordica logo.
Nordica logo. Source: ERR

Next week, €22 million of state support will be transferred to airline Nordica after Minister of Economic Affairs and Infrastructure Taavi Aas (Center) signed the decision on Thursday.

This was confirmed to ERR by Taavi Audo, adviser to the Ministry of Economic Affairs and Communications.

He said there has been sufficient assurances that Nordica's negotiations with Polish airline LOT will be completed.

Last Friday, Nordica signed a good intentions agreement with LOT to buy out a 49 percent stake in the joint venture of the two companies, Regional Jet. The deal is a precondition for the Nordica to receive state aid.

The government approved €30 million state aid to Nordica on October 15.

In August, the European Commission authorized the Estonian government to support Nordica with €30 million to help the airline cope with the difficulties caused by the coronavirus.


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Editor: Helen Wright

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