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Nordica

Nordica chief executive resigns

Jaan Tamm leaves the Estonian carrier on a high, soon after the airline posts its first full-year profit.

Jaan Tamm, chief executive of Estonia’s state-owned carrier Nordic Aviation Group, operating under the name Nordica, has submitted his resignation, which was accepted by the supervisory board.

He has headed Nordica’s management board since the company was established in October 2015. In that period, the airline has grown to operate a fleet of 18 aircraft and employ almost 450 people in Estonia and across Europe.

More than 20 routes have been launched from Tallinn, giving Nordica the biggest market share. It also provides flights to foreign partners as an additional revenue stream.

A total of 613,000 passengers flew Nordica in 2017, rising to more than a million when contracted flights are taken into account.

Setting new goals
The company ended the financial year with a profit of almost €900,000 – a much better result than anyone had expected. Tamm says that stage one of the airline’s development is now complete, making this moment a suitable time to leave.

“The state charged us with the task of getting the airline off the ground, offering direct flights from Tallinn to destinations that are important to people in Estonia and laying the groundwork for the sustainability of the company,” he explains.

“To my mind we have achieved all of that, as well as the majority of the tasks we set ourselves in the business plan when we set up the company. Three incredibly intense years are behind us and I would like to thank the entire Nordica team – our pilots, our cabin crew and our office staff – for their collective efforts and achievements.”

He concludes: “Having said all that, I also feel it is the right time for the company to be setting itself new goals under a new manager.”

Peeter Tohver, Nordica’s supervisory board chairman, says that Tamm’s duties will temporarily be taken up by fellow board member Hannes Saarpuu “until we have found a new chairman of the management board via an open competition”.

He added that Saarpuu had proven his ability to manage a service-sector company as director of the Estonia-based pan-Baltic coach firm Lux Express, a position he held for many years.

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