Finnish airport operator Finavia has secured a €230m (US$258m) loan from the European Investment Bank (EIB) for the expansion of the Helsinki Airport in Finland.
The investment will help finance Finavia’s terminal expansion project, which will see capacity at Helsinki Airport increase from approximately 17 million to 20 million passengers annually by 2020. The project will involve constructing two new terminal piers, an upgraded baggage handling system (BHS), new wide-body aircraft stands and additional landside and airside facilities. The project is expected to create up to 5,000 new jobs.
Jan Vapaavuori, vice president, EIB, said, “The EIB has made supporting strategic transport infrastructure one of its priorities. Helsinki Airport is the key international gateway in Northern Europe and an important part of the Trans-European Transport Network (TEN-T). We are therefore pleased to support Finavia in developing the airport, as its increased capacity will benefit both passengers and airline companies, maintaining the strong competitive position of this hub.”
Kari Savolainen, CEO of Finavia, said, “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. In order to keep up with the international competition, we will be developing and improving the operations and services of Helsinki Airport even further. I am glad that the EIB has a strong belief in Helsinki Airport’s future and joins us to invest in the airport’s growth and its position as one of the leading transfer hubs in Europe.