Estonian Budget Airlines Nordica and Xfly Declare Bankruptcy, Ceasing Operations

Nordica, once a key player in Estonia's regional aviation, filed for bankruptcy after accumulating over €85 million in debt. The airline's last flight was in September 2024, and it was liquidated in March 2025, with its fleet sold to Regional One. The bankruptcy reflects broader financial struggles among regional and low-cost carriers in 2025, alongside other notable airline failures like Spirit Airlines and Play Airlines, signaling a turbulent period for the aviation industry.