LOT to acquire 49% stake in Estonia’s Regional Jet

LOT Polish Airlines is planning to acquire a 49% stake in Regional Jet, an airline belonging to the Estonian national carrier Nordica, LOT president Rafał Milczarski announced. The two airlines have started cooperation which will mean more connections, aircraft, and passengers for LOT. On Friday, Milczarski and Nordica representatives signed an agreement in Tallinn on strategic cooperation. This will be the first such agreement in the history of LOT. Milczarski indicated that the acquisition deal could be concluded by the end of this year. “This is the first step in the consolidation of the Central and Eastern European market by LOT. At the same time, the first cooperation of this type between two CEE carriers in an innovative business model shows that airlines from our region are not doomed to being subordinated to big players from Western Europe,” Milczarski said.