Air Baltic CEO Martin Gauss on Wednesday said he is hopeful that Nordica, whose Xfly aircraft the company leases, will return to profit under its new leadership team.

But Air Baltic has no plans to buy Nordica.

"That would be not possible at the moment. We are not allowed to acquire, under the EU covid aid, other airlines, that is one of the restrictions. Our strategy is clear, that we are growing on Airbus A220-300s only. We have 50 aircraft coming next year and we will be ordering more aircraft. We intend to go to the stock exchange next year, and are preparing for that," Gauss told "Aktuaalne kaamera".

"Today our business plan is clear that we are not growing through acquisitions, we will be growing through growth, by adding aircraft. As we do successfully in Estonia and we are very happy with the development there. So, I do not see that we would need to acquire anything there in Estonia," he added.

On Tuesday, Minister of Climate Kristen Michal (Reform) ordered the supervisory board of state-owned airline Nordica to carry out a special audit after the company closed the first half-year with a loss of €7.2 million.

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