KfW IPEX-Bank finances expansion and modernisation of Helsinki Airport
Press Release from 2019-06-05 / KfW IPEX-Bank
KfW IPEX-Bank is participating in the financing to expand and modernise Helsinki Airport, some 17 km north of Finland's capital. The total investment volume adds up to approx. EUR 1 billion, with KfW IPEX-Bank providing a loan of EUR 95 million.
Helsinki Airport has been continually expanded since 2014. In phase 4, which is now starting, the existing terminal 2 building will be modernised and expanded. Measures include, among others, increasing the check-in capacities and security controls as well as optimising baggage reclaim. A multi-modal travel centre will also be established to better connect the airport with other types of transport, especially public transport. The entire project is slated for completion by 2022. "Financing airports as central mobility hubs for entire regions is part of our core business," explained Andreas Ufer, member of the Management Board of KfW IPEX-Bank responsible for the infrastructure sector. "In joining this financing, we intend to boost the growth and innovation potential of Helsinki Airport. Yet there is considerable potential in other markets in the region, too - we see ourselves as a problem-solver and financier specialised in infrastructure, also for northern Europe."
Owner and operator of the airport in Finland's capital city and also borrower is Finavia Corporation. The company is fully owned by the Finnish state and operates 21 airports in Finland. In spite of - and owing to - the steady rise in passenger numbers, the focus of Finavia's business model for airports is on sustainability and responsible action. A climate protection programme has already reduced the airport's emissions, officially giving it carbon-neutral accreditation. The climate programme consists of a number of measures aimed at reducing emissions, such as using 100 % renewable energy for electricity consumption and airport vehicles as well as improving the energy efficiency of all operations.
“Being the number one networked hub in the Nordic region our aim is to offer European and Asian passengers good and smooth connections world-wide. We want to stand out by providing an exceptionally good customer experience and sustainable operations at Helsinki Airport,” says Niclas Köhler, CFO and SVP at Finavia.
With this financing, KfW IPEX-Bank is positioning itself as an infrastructure financier in the European market while at the same time contributing to environmental and climate protection.