Nordica privatization process likely delayed due to court claim
The privatization of Estonian airline Nordica may be delayed as the aviation company Marabu has placed a court injunction on the company's shares, resulting in the seizure of the company's assets. Marabu's financial claim totals €9.5 million.
Marabu said the newly established Estonian company entered into a cooperation agreement last year with the state aviation company Nordica and its subsidiary Xfly. Under this agreement, Nordica was obligated to provide aviation services to Marabu. In addition, Nordica was required to operate scheduled flights with three Airbus aircraft, ensuring their crew, maintenance of the airplanes, and insurance.
"Unfortunately, to a very large extent, Nordica either did not operate these flights or delayed them, and as a result our customer suffered significant damage. /.../ Nordica's actions have caused Marabu losses of nearly €9.5 million," explained Marabu's representative, Sorainen's attorney Marcus Niin.
Marabu sought pre-trial options to compensate for the damage, and the state as the owner is aware of this.
"We have been trying to get Nordica to the table, but so far it has been a relatively difficult task. We hope that at some point we can get around the table here and then negotiate these issues between ourselves and perhaps come to an agreement," Niin said.
Now, Marabu has filed a lawsuit against Nordica at Harju County Court asking that the company's assets are preserved.
"Above all, what matters is the asset that can ultimately be sold. In the case of Nordica, we are really talking primarily about aircraft," Niin said.
Therefore, the state cannot currently take into account the change of ownership of the planes when privatizing Nordica, he added.
It usually takes between two and four years to resolve similar cases, Marabu's representative said.
The Ministry of Climate, whose representative is on the Nordica Council, told "Aktuaalne kaamera" they could not yet comment on the topic.
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Editor: Merili Nael, Helen Wright
Source: Aktuaalne kaamera