Nordica heads for restructuring

On August 1, the Estonian aviation company Nordic Aviation Group (Nordica) hired international consultancy Knighthood Global with the task to turn the aviation company onto a path of profitability. “In the past few months, the economic situation of Nordica has deteriorated sharply, and the company’s revenues have turned out to be considerably lower than expected. In turn, the costs significantly exceed the revenues,” explained David O’Brock, the chairman of the Supervisory Board of Nordic Aviation Group. “The situation in the aviation market is very difficult – there’s a delay in leased aircraft with which Nordica is supposed to service its