By Anne-Marie Leilaani on 2024-10-15
Nordic Aviation Group Takes a Major Step Towards Privatization
Nordic Aviation Group Takes a Major Step Towards Privatization
Nordic Aviation Group AS (Nordica, Xfly) is proud to announce that an investor has submitted a formal offer to privatize the company, marking a significant milestone in our ongoing transformation. This offer represents a key step forward in our efforts to strengthen NAG position in the competitive aviation market, allowing us to build a sustainable future and deliver long-term value for our stakeholders.
Overcoming Challenges and Building Resilience
Despite recent industry challenges, particularly the end of our largest ACMI contract with SAS, NAG has continued to demonstrate resilience. The loss of the SAS contract presented us with a tough situation, but instead of retreating, we pushed forward with a focus on operational excellence and financial discipline. As a result, we are proud to report four consecutive months of profitability—an important achievement that showcases our ability to adapt and thrive in challenging circumstances.
Furthermore, we are well-positioned for the upcoming Winter 2024/2025 season, with plans to secure 75% of our capacity. This operational success is a testament to the dedication and hard work of our team, who have remained committed to delivering high-quality service and ensuring that Nordica continues to be a trusted partner in the aviation industry.
Moving Towards Privatization
The offer to privatize Nordica comes at a crucial time in our company’s journey. Privatization will provide us with the financial flexibility and strategic direction needed to accelerate our growth and innovation in the ACMI and charter markets. The investor, whose identity remains confidential at this time, has recognized the upward trajectory of Nordica and shares our vision for the future.
This privatization offer is more than just a financial transaction; it is a reflection of NAG potential and the confidence in our ability to drive positive change. Our continued success will be built on our ability to turn challenges into opportunities, a mindset that has been central to our achievements in recent months.
Looking Ahead
NAG’s future is bright. With the potential privatization on the horizon, we will focus on expanding our partnerships, exploring new markets, and enhancing operational efficiency. As we prepare to navigate this next chapter, our goals remain clear: to continue providing reliable ACMI and charter services, to maintain our profitability, and to innovate in ways that set us apart from our competitors.
For a more detailed analysis of this development, please refer to the full article here.
