Nordic Investment Bank (NAB) and the operator of Tallinn Airport have agreed on a €40 million uncommitted facility to finance the airport’s capacity expansion programme.
The 20-year loan will support a phased capacity expansion that is set to be completed by 2030.
In 2024, Tallinn Airport served 3.5 million passengers, exceeding its current design capacity of 3 million.
To respond to rising demand, the expansion will increase annual capacity to 5.5 million passengers.
The expansion will entail extending the west-side façade, developing a new arrivals area, enlarging passenger and commercial zones, adding new contact gates, and modernising existing facilities.
The upgrades are designed to reduce congestion, streamline operations – particularly during peak periods – and provide a smoother travel experience.
Anneli Turkin, CFO of Tallinn Airport, said the longstanding support of NIB has been “instrumental” in developing essential infrastructure across the Nordic-Baltic region, including in the Estonian capital.
“Their confidence in our development plans is an important recognition of the work we are doing to ensure Tallinn Airport can grow sustainably and continue serving passengers at the highest level,” said Turkin.
AS Tallinna Lennujaam is the operator and developer of airports in Estonia, including Tallin Airport, and its sole owner is the Estonian government.
NIB is a state-owned financial institution jointly owned by the governments of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden.
NIB invests in projects that aim to improve productivity across the Nordic-Baltic region, including environmental projects. It has the highest possible credit rating of AAA from S&P Global Ratings and Aaa from Moody’s.