Two articles from ERR (public broadcaster in Estonia) - one in English and one in Estonian (my translation).
SAS ends cooperation with Estonia's Nordica
https://news.err.ee/1609471840/sas-e...onia-s-nordica
"On September 25, 2024, SAS officially informed Regional Jet OÜ of its intent to terminate the wet lease agreements under which Regional Jet has been operating the mentioned routes," Nordica said on Thursday.
"The termination of the agreements will also result in a reduction of SAS-operated flights on the Tallinn-Arlanda route. According to the initial information available, the frequency of flights may decrease by about 50 percent, which means that the number of weekday flights could drop from six to two."
Regional Jet OÜ and its parent company Nordic Aviation Group are assessing the situation to find new opportunities for their aircraft and crews in the Aircraft, Crew, Maintenance, and Insurance market.
The airline's management plans to present an updated business plan to the company's supervisory board and shareholders by October 15.
...
The company has scheduled a press conference for Friday.
And on breakfast television in Estonia this morning:
Ministry of Climate: Nordica can expect bankruptcy
https://www.err.ee/1609472008/kliima...oodata-pankrot
According to Sander Salmu, Deputy Secretary for Mobility of the Ministry of Climate and Nordic Aviation Group board member, the national airline may face bankruptcy if the company is unable to quickly find new customers or if it is not possible to privatize it in the near future.
On Thursday, Nordic Aviation Group announced that at the end of October, Regional Jet, the subsidiary company using the Xfly brand, has an agreement with SAS to serve domestic routes in Sweden.
According to Salmu, the Ministry of Climate has essentially realized by the end of the year that the company is in a difficult situation and it may lead to bankruptcy.
"Ultimately, bankruptcy is still the decision of the board if it is clear that the company is no longer able to continue operating," Salmu told ERR.