The general meeting of the Estonian state-owned airport operator Tallinna Lennujaam AS opted to leave the company's 2016 operating profit of more than €6.1 million for investments in Tallinn Airport.
"The growth in Tallinn Airport's estimated passenger volumes demands additional investments from Tallinna Lennujaam both in the airside traffic area as well as in the passenger terminal," Minister of Economic Affairs and Infrastructure Kadri Simson, representing the owner of the airport, said in a press release. "The company's investment burden over the next few years is fairly high. According to the decision of the general meeting, this money will remain at the disposal of Tallinna Lennujaam.
Since the beginning of the year, the number of passengers to travel through Tallinn Airport has increased by 19 percent, and the number of passengers traveling through the airport is estimated to grow from the current 2.22 million to 2.8 million people annually by 2022.
Tallinna Lennujaam is planning investments worth a total of €137.6 million between 2017-2023. Among the most important investments currently underway are the development of the airside traffic area, expansion of the airport's passenger terminal, the construction of the tram line extension to the airport as well as a public transport terminal as well as the construction of a 1,200-vehicle parking garage and aircraft painting hangar.
Editor: Aili Vahtla