Type
Bankruptcy
Country
Estonia
Region
Eesti; Põhja-Eesti;
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51.10 - Passenger Air Transport

176 - 286 jobs
Number of planned job losses
Job loss
Announcement Date
20 November 2024
Employment effect (start)
22 November 2024
Foreseen end date

Description

The Estonian State-owned airline Nordica will close and file for bankruptcy after a potential investor backed out of a deal earlier this week. Until 2019, the airline flew under its own name but since then have offered outsourcing services for other airlines. The decision to privatise the company was made in the end of 2023 but after SAS airline ended its cooperation with Regional Jet, the subsidiary of airline Nordic Aviation Group, the plan failed. Nordic Aviation Group employed 579 people in October, of those 286 were employed in Estonia. On Friday, 24.11., Nordica already announced the redundancy of 176 employees.


Sources

Citation

Eurofound (2024), Nordica , Bankruptcy in Estonia, factsheet number 201973, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201973.