Estonian airline Nordica special audit to cost €166,000

Nordica jet taxiiing on the tarmac at Tallinn Airport.
Nordica jet taxiiing on the tarmac at Tallinn Airport. Source: Ken Mürk/ERR

A joint bid submitted by Ernst & Young Baltic and FORT Legal won the procurement for a special audit of the Estonian state-owned airline Nordica. The cost of the contract is €166,000, plus VAT.

In late July, Minister of Climate Kristen Michal (Reform) ordered Nordica's supervisory board to conduct a special audit after the airline finished the first half of the year with a loss of €7.2 million.

The procurement attracted two bids.

"The special audit must assess the company's activity from the beginning of 2020 through the end of July 2023," explained Sander Salmu, undersecretary for mobility and transport at the Ministry of Climate and a member of the supervisory board at Nordica. "The goal is to determine the causes of the negative economic situation that has developed."

The contract for conducting the special audit is expected to be signed within the next week.

The first interim report of the special audit must be submitted within one month and the final report within three months of concluding the contract," Salmu said.


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Editor: Aili Vahtla

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