If Nordica succeeds in finalizing agreements to bring currently grounded aircraft back into operation by the end of next week, it is likely that the privatization of the struggling airline can also be completed, Infrastructure Minister Vladimir Svet noted.
On Thursday, the government gave preliminary approval to continue negotiations for the sale of Nordic Aviation Group and Transpordi Varahaldus.Danish airline owner and airBaltic minority shareholder Lars Thuesen, who owns Jettime and holds a 2.03 percent stake in airBaltic, has expressed interest in purchasing both companies.
The sale’s completion depends on Nordica’s board meeting its business plan targets for the coming months and finalizing transaction details with potential buyers.
“The question is whether Nordica can secure agreements within the next week to ten days to reactivate its currently grounded aircraft.
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