Nordica's fiscal year ends on December 31, and since the annual report must be submitted within six months, the deadline was the end of June. However, the state-owned company has not yet submitted its report.

The Ministry of Climate, which owns the company's shares, recommended directing questions directly to the airline. However, reaching Nordica has been challenging as two of their communication personnel recently left the company.

Nataly Dubbelman, Nordica's sustainability manager, responded to an inquiry. "Nordic Aviation Group regrets to confirm that the submission of the 2023 financial report has been delayed," Dubbelman stated. "Preliminary results have already been published, and we are currently working with our auditors to finalize the report. We expect to submit the final report by August," she added.

Nordica operates aircraft owned by another state-owned company, Transpordi Varahaldus. In early July, Transpordi Varahaldus announced its financial results for the previous year, reporting a loss of €10 million, primarily due to asset write-downs linked to Nordica's financial difficulties.

Additionally, the Ministry of Climate unsuccessfully attempted to privatize Nordica earlier this year.

In 2022, Nordica earned a profit of €1.5 million on a turnover of €90.6 million. Nordica's subsidiaries, Regional Jet (operating under the Xfly brand) and Nordic Aviation Advisory, have also not yet submitted their financial reports for the previous year to the Commercial Register.

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