Estonia: Government decides to sell off Nordica shares

The Estonian government has decided to sell the state’s entire stake in Nordic Aviation Group (NAG), operator of national air carrier Nordica, due to the company’s unprofitability and lack of strategic value, BNS reported. Nordica stopped offering flights from Tallinn in 2019 and now primarily provides subcontracting services. The government expects binding offers for the airline by 8 March 2024. At the same time, the government will invest EUR 14.5mn in Tallinn Airport to maintain crucial connections.