Helsinki Airport to get 230 million loan for expansionStaff writer ▼ | February 6, 2016
The European Investment Bank (EIB) provided a EUR 230m loan to Finavia, the Finnish airport operator, for the expansion of the Helsinki Airport.
Air expansion Helsinki Airport is to serve 20 million passengers
The loan to Finavia co-finances the development of the main hub of Finland to alleviate peak congestion, cater for future growth in traffic and to improve passenger service standards.The future Helsinki Airport will have more space, better services and more digital innovations.
The investment will increase the capacity of the airport for the future. This is of big importance, as the international traffic in the one of Europe's main gateways to Asia is estimated to grow at an average annual rate of over 4%.
Thze investment includes the extension of the terminal with two additional piers, the enlargement of the baggage handling systems (BHS) by 50 % and various associated landside and airside infrastructure as well as increase in apron capacity and wide-body aircraft bridges.
The EIB strongly supports job creation and the Helsinki airport extension programme is likely to result in an increase of up to 5000 new jobs.
This project is a continuation of the EIB's successful cooperation with Finavia. Including the current operation, the EIB has provided four loans to Finavia, for instance for Finavia's share of the Ring Rail Line project connecting centre of Helsinki with the airport.
The EIB support makes the company's financing more cost-efficient and extends the maturity profile of its debt. ■