Nordic Aviation Group, doing business as Nordica (ND, Tallinn Lennart Meri), and its subsidiary Xfly (Estonia) (EE, Tallinn Lennart Meri) will file for bankruptcy “at the earliest opportunity” after talks with prospective investor Lars Thuesen fell through.

“Unfortunately, the potential investor announced on Monday [November 18] that he does not intend to proceed with the privatisation due to excessive risks. Therefore, the board informed the council of its decision to terminate the operations of Nordic Aviation Group and Xfly and file…

Source: ch aviation
Read more: Estonia's Nordic Aviation Group to file for bankruptcy