Nordica to sell 49% stake in Regional Jet to LOT
Aviation company Nordic Aviation Group, operating under Nordica brand, has submitted an application to the Competition Comission in order to hand over 49% of the stake in its subsidiary Regional Jet to its strategic partner Polish carrier LOT, ERR reports.
On the 30th of December a notice of consolidation by Nordica and LOT was filed. Parties announced taking control of Regional Jet (RJ) together. The control of RJ was completely in Nordic Aviation Group‘s hands before.
At the beginning of November 2016 Nordica announced quiting its cooperation with Slovenian Aviation company Adria Airways, and is about to start its strategic partnership with Polish carrier LOT. Companies plan to use a common commercial platform, ticketing system, and a code-sharing scheme.
As a result of export growth in aviation services field in 2017, Nordica is planning to purchase three new aircraft. It will create at least 70 new work places. As part of the strategic cooperation, LOT will acquire 49% of the shares in Regional Jet.
Polish state-owned carrier LOT operates 200 flights to 60 destinations on four continents every day and carries about five million passengers a year. Regional Jet OÜ – subsidiary of Nordica, owns a wide range of licences and certificates in the civil aviation field.
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