Isavia ohf.

19 May 2023

NIB finances new East Wing Terminal at Keflavík International Airport

NIB and Isavia ohf. have signed a 10-year loan agreement of EUR 50 million to finance the construction of the Keflavík International Airport expansion, which involves the construction of a new East Wing Terminal.

The new terminal construction will add 23,000 m2 to the main terminal building, thereby increasing the total terminal area by 30%. The expansion project is a part of Isavia’s efforts since 2014 to improve the airport’s passenger experience and increase its capacity to cater to the growing demand for air travel to and from Iceland. The new building is expected to achieve an Excellent rating according to the international BREEAM classification and will be ready for use in 2024.

Keflavík International Airport is the largest airport in Iceland and serves as the country’s main hub for international air travel. The construction of the new East Wing Terminal is expected to provide improved facilities for travelers, enhance the airport’s overall capacity, and support the growth of tourism and the aviation industry in Iceland. The loan agreement between NIB and Isavia ohf. will help ensure the successful completion of the expansion project and pave the way for continued growth and development of Keflavík International Airport.

In addition to being responsible for the development and operation of all public airports in Iceland, Isavia also manages air traffic in the Iceland Air Control Area, which covers 5.4 million square kilometers, including the upper airspace over Greenland and a large part of the North Atlantic. Keflavík International Airport serves around 28 international airlines, operating regular flights between Iceland, Europe, and North America.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Stefán Jón Friðriksson, Senior Banker, Lending, at +358 50 3111 050,

David B Rasmusson, Communications, at +358 50 476 3071,

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