Former Nordica partner makes €25 million from sale of assets, waiting for liquidation

A Nordica jet at Tallinn Airport. Source: Ken Mürk/ERR

The government will decide early next year what to do with state-owned Transpordi Varahaldus, which leased planes to Nordica and now holds €25 million.

U.S. aviation company Regional One, which purchased seven passenger aircraft formerly operated by bankrupt airline Nordica, is set to take delivery of the final plane in the near future.

Ideally, the aircraft would be handed over before the end of the year, but it will likely happen in January, according to Ergo Blumfeldt, member of the management board of Transpordi Varahaldus.

“This particular aircraft is a bit unusual in our fleet because its landing gear is leased. The original landing gear was sent for maintenance by Nordica and the aircraft’s technical inspection, handover and related documentation have been significantly more complex than for the other planes,” Blumfeldt said, explaining the delay.

Under an agreement signed in June, the sale price for the seven 88-seat Bombardier CRJ900NG aircraft is $37.5 million.

Read more: ERR.EE

Share this article

related News

EURO

Trending

Tallinn

loader-image
temperature icon -7°C
broken clouds
Wind Gust: 0 Km/h
Clouds: 75%

Riga

loader-image
temperature icon -7°C
broken clouds
Wind Gust: 0 Km/h
Clouds: 75%

Vilnius

loader-image
temperature icon -0°C
mist
Wind Gust: 0 Km/h
Clouds: 75%