Airline Nordica suffered a loss of EUR 10.5 million last year due to the reduced opportunity to travel caused by the coronavirus.
The company approved the report for the previous financial year at a general meeting on July 6.
Last year’s sales revenue was EUR 61 million, almost 42% less than in 2019 which saw a total sales revenue of EUR 104 million.
Nordica’s scheduled flights carried 22,000 passengers in 2020 (351,000 in 2019) and the company operated 1,400 flights (7,600 in 2019).
Erki Urva, head of Nordica, said that there was still no clarity or freedom to restart large-scale flights, but it was clear that life would probably not continue in the same way as in March 2020.
“Our job is to monitor the situation and react according to the market situation,” said Urva.
Last summer, the European Commission allowed state aid to be granted to the company and in November the government paid EUR 22 million to the share capital of Nordic Aviation Group AS.
Urva said it could not be ruled out that that the company might need more support in the future, as the pandemic was not yet over. (ERR/Business World Magazine)