€230mn loan for Helsinki Airport expansion

Finnish hub aims at 20 million passengers by 2020
The European Investment Bank has agreed to provide a €230 million loan to Finnish airport operator Finavia for an upcoming expansion of Helsinki Airport. Finavia says the investment will enable the hub to serve 20 million passengers by 2020.
The loan co-finances the development of Finland’s main hub to alleviate peak congestion, cater for future growth in traffic and improve passenger service standards. The future airport will have more space, better services and more digital innovations, the operator promises.
The investment will increase capacity at HEL, where international traffic in one of Europe’s fastest growing gateways to Asia is estimated to expand at an average annual rate of over 4%.
EIB vice-president Jan Vapaavuori described Helsinki Airport as “the key international gateway in northern Europe and an important part of the Trans-European Transport Network (TEN-T).”
Kari Savolainen, chief executive of Finavia, added: “Helsinki Airport’s geographical location is an undisputed asset. Flying via Helsinki means choosing the shortest and fastest route between Europe and Asia. It is predicted that air traffic between Asia and Europe will increase strongly in the coming years.”
The investment includes an extension of the terminal with two additional piers, an increase in wide-body aircraft bridges, the enlargement of baggage handling systems by 50% and improvements in landside and airside infrastructure.
The project is a continuation of the bank’s cooperation with Finavia, with four previous loans including the Ring Rail Line project connecting central Helsinki with the airport.
TTG Nordic