Nordic Aviation Group AS, the Estonian national carrier using the Nordica brand, projects a turnover of 50 million euros and a loss of 15 million euros for its 15-month first year of operation, CEO Jaan Tamm told the daily Postimees.
When Nordica was established the first-year loss was projected at 9 million to 23 million euros, Tamm said and added that he personally had hoped for a single-digit loss number.
According to the company's current plan, the loss is expected to decline from 15 million to 6 million euros next year and shrink further to 3 m...
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