Harju County Court has declared Estonia’s national airline Nordica bankrupt. The bankruptcy was officially initiated on 20 November 2024, after which the company announced the layoff of 272 employees.
Nordica was established in 2015 and initially operated flights under its own brand from Tallinn. However, since 2019, it has focused on providing subcontracting services to other airlines. As of October 2024, the company employed 579 people, 286 of whom were in Estonia.
Attempts to privatize the airline, which began in December 2023, were unsuccessful. The total state investment in Nordica amounted to approximately 70 million euros, but the company’s debt exceeded the value of its assets by 38 million euros, which led to the final cessation of operations.