ODI Law has advised Adria Airways — Slovenia’s national airline — on its businesses cooperation with the Nordic Aviation Group (NAC), an airline newly established by the Estonian Government.
The transaction coincides with the initiation of bankruptcy proceedings of the national Estonian airline Estonian Air, which ceased to fly from Tallinn on Saturday after that day’s decision by the European Commission that Estonia's provision of EUR 85 million to the airline constituted impermissible state aid.
To assist NAC as the company ramps up, Adria began flying from Tallinn to several destinations in cooperation with NAC the next day — November 8, 2015 — and it has agreed to provide Nordic with full commercial and operational support and to operate all flights using its own aircraft or leased aircraft. According to Mark Anzur, the CEO of Adria Airways, the project is to last between 12 and 18 months and is expected to have important financial effects for Adria, which is hoping to increase its passengers by more than 50%.
ODI’s team was led by Managing Partner Uros Ilic and Senior Associate Suzana Boncina Jamsek.
Nordic Air Group relied on its in-house counsel on the deal.
Image Source: Vytautas Kielaitis / Shutterstock.com
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