NIB to support Tallinn Airport expansion

• NIB and Tallinna Lennujaam AS (Tallinn Airport) have agreed on a EUR 40 million uncommitted facility to finance the airport’s capacity increase.
• The 20-year loan will support a phased expansion programme to be completed by 2030.

The project will support Tallinn Airport’s long-term development by increasing capacity, improving the passenger experience, and enhancing operational efficiency. By strengthening international air connectivity, the expansion will contribute to the growth of Estonia’s business and tourism sectors.

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 up to 5.5 million passengers, ensuring the airport can continue to operate efficiently and comfortably as traffic grows.

“We highly value our long-standing relationship with NIB, whose support has been instrumental in advancing essential infrastructure across the Nordic–Baltic region. 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 Anneli Turkin, CFO of Tallinn Airport.

“Airports play a critical role in connecting economies and enabling sustainable growth,” says Jeanette Vitasp, Head of Lending at NIB. “This expansion will help Tallinn Airport meet rising passenger demand while improving efficiency and service quality. By supporting modern, resilient transport infrastructure, the project will strengthen Estonia’s connectivity and deliver long-term benefits for travellers and the wider economy.”

The expansion includes extending the west-side facade, developing a new arrivals area, enlarging passenger and commercial zones, adding new contact gates, and modernising existing facilities. Together, these improvements will reduce congestion, streamline operations – particularly during peak periods – and provide a smoother travel experience.

AS Tallinna Lennujaam is the operator and developer of airports in Estonia. AS Tallinna Lennujaam, along with its subsidiaries AS Tallinn Airport GH and AS Airport City, forms the Tallinn Airport Group.The sole owner of AS Tallinna Lennujaam is the Republic of Estonia.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

For further information, please contact

Fridrik Andersen, Senior Banker, +358 106180238, Fridrik.Andersen@nib.int

Elīna Neimane, Senior Communications Officer, +358 10 618 0871, Elina.Neimane@nib.int