Nordica chief executive Hannes Saarpuu says the Estonian airline is mulling the buyout of the 49% stake held by LOT Polish Airlines in Nordica's subsidiary Regional Jet, which was finalized in March 2017. He believes LOT may eventually opt to leave the venture due to changing market conditions and annual results not in line with expectations.
Nordica says the idea has been discussed internally, but no decision has been made. However if the the buyout were to proceed, it wouldn't necessarily be the end of their collaboration, as a commercial partnership is likely to be pursued.
The Estonian government has already allocated US$40 million to Nordica, with only a further $25 million due. The funds may be used for the buyout.