Nordica CEO Remco Althuis told ERR that the airline's future business plan consists of three phases: the upcoming winter, the period from April 2024 to March 2025 and the final phase, which will begin after March 2025.

"We plan to maintain our current fleet, as well as our staff, office and systems," Althuis explained.

According to the CEO, the plan includes the privatization of the airline, and negotiations are currently underway with a potential investor, Danish businessman Lars Thuesen. Thuesen owns the airline Jettime and holds a 2.03 percent stake in Air Baltic.

Sander Salmu, Nordica supervisory board member and deputy secretary general of the Ministry of Climate, said that the need to present the business plan arose after SAS unexpectedly decided to significantly reduce the volume of services it had been contracting.

Salmu noted that further discussions about a potential privatization package will take place with the prospective investor and the consulting firm facilitating the privatization process.

"The plan provides an overview of the contracts that have been signed. The company has confirmed that client agreements are in place for four aircraft," he said.

Salmu described the plan as highly dynamic. "There are several open questions at the moment, so it's not wise to go into too much detail. While work has been found for some of the aircraft, there is still a lot left to be done," he added.

"We first need to discuss this with the supervisory board, and then with the potential investor," Salmu concluded.

--

Follow ERR News on Facebook and Twitter and never miss an update!