A letter of intent was already signed with the prospective buyer back in April, but the sale agreement itself — initially hoped to be finalized in May — has yet to be concluded.

Sander Salmu, deputy secretary general of the Ministry of Climate, told ERR that the agreement is now in its final stages of being signed.

"Final active negotiations are underway regarding the terms of the sale, particularly the technical handover conditions for the aircraft," he explained, adding that the owner of the aircraft, OÜ Transpordi Varahaldus, expects the agreement to be signed at the beginning of the week after next.

The ministry official has previously said the delay was due not only to the time required for negotiations, but also to the need for technical inspections of the aircraft before the deal could go through.

The transaction amount will not be disclosed before the sale agreement is finalized.

Transpordi Varahaldus owns seven 88-seat Bombardier CRJ900NG regional jets. ERR has previously reported that the leading bid came from an international company operating in the aviation sector.

Founded in 2015, Nordica operated flights from Tallinn under its own name until fall 2019, after which it transitioned into a subcontracting service provider.

AT the end of 2023, the Estonian state began the privatization process for the airline, but when an interested investor backed out of the deal last November, Nordica's management decided to cease airline operations and filed for bankruptcy for both Nordic Aviation Group and Regional Jet on November 20, 2024.

On January 28, Harju District Court declared the airline bankrupt.

Transpordi Varahaldus aircraft had been leased to Nordica on long-term contracts. Nordica, in turn, subleased them to its subsidiary Regional Jet, which operated under the Xfly brand.

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