State-owned airline Nordica and its subsidiary, Xfly, are filing for bankruptcy after a potential investor, Lars Thuesen, withdrew from privatisation negotiations due to high risks. The decision to cease operations was confirmed by the Nordic Aviation Group’s board on November 18.
CEO Remco Althuis announced the immediate start of bankruptcy proceedings, including returning leased aircraft and notifying relevant authorities. The company, which has 579 employees, informed its staff and partners about the closure.
Nordica, established in 2015, had transitioned from operating its own flights to providing outsourcing services after ceasing operations under its name in 2019. Attempts to privatise the airline began in late 2023 but ultimately failed, leading to the company’s closure.
