Sander Salmu, deputy secretary general at the Ministry of Climate and Nordica supervisory board member, told ERR that a letter of intent was signed this month with a prospective buyer but declined to disclose the purchase price before the deal is finalized.

"We can't talk about the figures for the simple reason that you never know whether the deal in its current form will go through before it's signed or if new negotiations will need to start. That's why, unfortunately, we can't reveal such details just yet," Salmu explained.

Because the seven aircraft being sold are from different production years and in varying condition, the process will take some time, he said. Salmu also declined to name any interested parties until the agreements have been signed.

"What I can say is that there has been interest in these aircraft. The bidding round took place at the beginning of the year and even those with whom we're no longer in talks have confirmed that their interest remains should the contract not be signed with the top bidder," Salmu noted.

According to him, the state hopes to sign the agreement in the coming weeks. Since the aircraft are assets of the state-owned company Transpordi Varahaldus, the company is overseeing the entire sales process itself.

Salmu emphasized that there is no rush to complete the sale. Preparations began last summer and the process has been carefully planned.

"We want to get the best price for our assets, but again, these negotiations are being conducted by the state-owned company, Transpordi Varahaldus, to sell its property," Salmu added.

Aircraft are currently in high demand globally, as production is failing to keep pace with needs. According to Salmu, this is reflected in the heightened interest in Transpordi Varahaldus' planes, with several operators submitting offers.

He noted, however, that these planes are designed for specific services and have a more limited range, making them less conventional aircraft types.

"Still, there is interest and I believe that the current market — where demand for new aircraft exceeds supply — creates favorable conditions for a sale," said the deputy secretary general, who added that news of the sale could be expected by the end of May at the latest.

Transpordi Varahaldus owns seven Bombardier CRJ900NG passenger jets, each with 88 seats. ERR previously reported that the highest bidder is an international company operating in the aviation sector.

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