Xfly
Xfly was an Estonian regional ACMI wet-lease airline and EASA-certified maintenance provider serving commercial carriers in Northern Europe, operating as a wholly-owned subsidiary of AS Nordic Aviation Group before filing for bankruptcy in November 2024.
- Company typePrivate
- Founded2015
- HeadquartersTallinn, Estonia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Xfly does
Xfly was a regional ACMI (Aircraft, Crew, Maintenance, Insurance) wet-lease airline and EASA-certified maintenance provider operating as a wholly-owned subsidiary of AS Nordic Aviation Group, an Estonian Aktsiaselts headquartered at Lennujaama tee 13, Tallinn. The company leased aircraft with crew and provided line maintenance to commercial carriers, primarily in Northern Europe, operating alongside the sister Nordica brand under the Nordic Aviation Group umbrella. A related entity, Transpordi Varahaldus OÜ, handled aircraft ownership and asset management within the group. The company was founded in 2015 and maintained a small headcount of 11–50 employees.
On November 29, 2024, Nordic Aviation Group submitted a petition to the Estonian court to declare bankruptcy of both Nordica and Xfly; the filing cited EUR 38 million in liabilities remaining after deducting the value of assets. Interim bankruptcy trustees were appointed, court-imposed restrictions on asset transactions took effect on December 4, 2024, and all daily operations — including payments, information disclosure, and the assumption of new obligations — were halted. The company initiated a collective redundancy process in cooperation with the Estonian Unemployment Insurance Fund (Töötukassa), returned leased aircraft to lessor-designated locations, and brought aircraft owned by Transpordi Varahaldus OÜ back to Tallinn Airport for storage and potential sale.
Xfly firmographics
Firmographics- Name
- Xfly
- Legal name
- AS Nordic Aviation Group
- Website
- https://xfly.ee
- Company type
- Private
- Founded year
- 2015
- Operating status
- Closed
- Headcount range
- 11–50 employees
- Short description
- Xfly was an Estonian regional ACMI wet-lease airline and EASA-certified maintenance provider serving commercial carriers in Northern Europe, operating as a wholly-owned subsidiary of AS Nordic Aviation Group before filing for bankruptcy in November 2024.
- Ownership category
- akta.pro rank
Xfly industry classification
Industry- Product category
- Regional ACMI Wet-Lease Airline Services
- NAICS
- Nonscheduled Air Transportation (4812)
- akta.pro primary industry
- ACMI / Wet-Lease Passenger Operators (THABADAA)
- akta.pro secondary industry
- Maintenance Operations Coordination (Line Maintenance Interface/AOG) (THABAIAJ)
Keywords
Where Xfly is headquartered
LocationHeadquarters
- HQ city
- Tallinn
- HQ country
- Estonia
- HQ region
- Europe
Offices1 record
Markets served
Xfly business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure
Xfly product offering
Product offeringCore offering
Xfly provided regional ACMI wet-lease airline services, supplying aircraft, crew, maintenance, and insurance to commercial carriers under contract. In addition, it delivered EASA-certified aircraft maintenance services for commercial operators. Operations were based in Tallinn, Estonia, and served Northern European commercial airlines until the company filed for bankruptcy on November 29, 2024 and ceased daily operations.
Differentiator
Problem solved
Functional benefit
Products and services
- ACMI Wet-Lease Airline Services B2B wet-lease service delivering aircraft, crew, maintenance, and insurance to commercial airlines on contract, enabling carriers to operate regional capacity without owning or crewing aircraft.
- EASA-Certified Aircraft Maintenance Maintenance services delivered under EASA certification to commercial carriers, provided either as part of the wet-lease package or as a standalone capability.
Companies that use Xfly
Customer profileIdeal customer profiles1 record
Xfly technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Xfly partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Transpordi Varahaldus OÜminorAircraft owner whose aircraft have been returned to Tallinn Airport following the bankruptcy filing. These aircraft will be properly stored and, if necessary, maintained during bankruptcy proceedings. The owner will continue with the sales process for these aircraft.
- Estonian Unemployment Insurance Fund (Töötukassa)coreEstonian government agency assisting with the collective redundancy process. Organized information sessions for employees and will assist employees with obtaining statutory benefits. The interim bankruptcy trustee will submit applications to Töötukassa on behalf of employees to claim insolvency benefits for unpaid wages and other statutory amounts.
Scale indicators1 record
Recent moves5 records
Xfly competitors and assessment
Company assessmentDirect peers
- SmartLynx Airlines: Latvian-based ACMI/wet-lease operator serving European carriers with narrowbody and regional aircraft. Closest direct comparable to Xfly given the regional ACMI niche and Baltic/European customer base.
- GetJet Airlines: Lithuanian ACMI and charter carrier providing wet-lease capacity to European airlines. Comparable to Xfly in fleet type, business model, and target customer profile.
- Danish Air Transport (DAT): Danish regional carrier providing ACMI/wet-lease and scheduled services across Northern Europe. Operates similar aircraft types and serves the same Nordic/Baltic airline customer base.
- Hi Fly: Portuguese-headquartered ACMI/wet-lease specialist operating widebody and narrowbody aircraft for airlines globally. Larger-scale direct peer offering the same core wet-lease service model.
- Nordica: Sister airline to Xfly under the same AS Nordic Aviation Group parent, providing regional ACMI and scheduled wet-lease services from Tallinn. Co-defendant in the bankruptcy filing and the most operationally comparable entity to Xfly.
- Avion Express: Lithuanian ACMI/charter operator focused on narrowbody wet-lease services across Europe, Africa, and the Middle East. Operates the same model as Xfly with similar customer base of legacy and LCC carriers.
- Novair: Swedish-based ACMI and charter operator serving European carriers with narrowbody capacity. Comparable regional ACMI peer, especially for Northern European clients.
- Heston Airlines: Lithuanian ACMI/wet-lease operator serving European carriers with A320-family aircraft. Direct competitor in the regional ACMI space, especially in Northern Europe.
Emerging players
- AirHub Airlines: Malta-based ACMI/wet-lease start-up focused on narrowbody capacity for European carriers. Emerging competitor in the same niche Xfly occupied, though at an earlier growth stage.
Broad incumbents
- airBaltic: Latvian hybrid carrier combining scheduled regional services with ACMI-style operations across the Baltic/Nordic region. A broader incumbent that overlaps with Xfly's geography and customer base, though its primary business is scheduled passenger service.
Market position
Strengths1 record
Weaknesses5 records
Competitive moat2 records
Key risks6 records
Key highlights3 records
Customer concentration
Xfly social profiles
Digital presenceXfly financial estimates
Financial estimateRevenue estimate
Valuation estimate
Xfly leadership team
Management profileNumber of profiles
Xfly subsidiaries and ownership
Company hierarchySubsidiaries3 records
Xfly funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Xfly M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Xfly
What does Xfly do?
Xfly provided regional ACMI wet-lease airline services, supplying aircraft, crew, maintenance, and insurance to commercial carriers under contract. In addition, it delivered EASA-certified aircraft maintenance services for commercial operators. Operations were based in Tallinn, Estonia, and served Northern European commercial airlines until the company filed for bankruptcy on November 29, 2024 and ceased daily operations.
Is Xfly a public or private company?
Xfly is a private company. It is classified as corporate owned and is currently closed.
When was Xfly founded?
Xfly was founded in 2015. It employs 11 to 50 people.
Where is Xfly based?
Xfly is headquartered in Tallinn, Estonia, in the Europe region.
Who are Xfly's main competitors?
Direct peers on record are SmartLynx Airlines, GetJet Airlines, Danish Air Transport (DAT), Hi Fly, Nordica, Avion Express, Novair and Heston Airlines. AirHub Airlines is listed as an emerging player. airBaltic is listed as a broad incumbent.
Does Xfly have an API?
No public API is recorded for Xfly.
What industry is Xfly in?
Xfly's product category is Regional ACMI Wet-Lease Airline Services. Its primary akta.pro industry code is THABADAA, ACMI / Wet-Lease Passenger Operators, with a secondary code of THABAIAJ, Maintenance Operations Coordination (Line Maintenance Interface/AOG). Its NAICS code is 4812.