Airport, Estonia, EU – Baltic States, Investments, Legislation, Transport

Adria Airways is one of the airlines providing flights for Nordic Aviation Group, the new state owned Estonian airline that began air services on Nov. 8 last year following the insolvency of Estonian Air.

The sale, which will see the government and 4K inject 4.1 million euros into the firm first, is part of a privatization and reform program launched by eurozone member Slovenia in 2013 to avoid needing a bailout.

The transaction will be carried out in the "following few months" and is cheaper than a "theoretical bankruptcy," state holding company Slovenian Sovereign Holding (SDH) said.

In 2011 the Slovenian government injected 50 million euros into the airline founded in 1951, which today has 11 aircraft flying to 17 cities, mostly in the western Balkans and northern Europe.

The new Estonian state-owned airline is due to start services with a CRJ-700 aircraft rented from Regional One and Estonian language onboard service this week. Until now the operation of Nordic Aviation Group has been limited to ordering of flights, carried out in cooperation with airlines such as Adria Airways, BMI, Trade Air, NextJet and Carpatair.