According to the audited results of the 2017 financial year of OÜ Transpordi Varahaldus (TVH) the profit for the 2017 financial year was 2.9 million euros at a turnover of 6.7 million. The annual report of the company was audited by AS Deloitte Audit Eesti.
TVH is a state-owned private limited liability company founded on September 30, 2015 by the Republic of Estonia as a sole shareholder with the objective of operating as an investment firm financing and managing fixed assets in the field of transport (including acquisition and lease). The company owns six Bombardier CRJ-900 NG 88-seater passenger aircraft.
According to the member of the management board of TVH Ergo Blumfeldt, the most important event of the 2017 financial year was an increase in the aircraft fleet from four planes to six. In summer 2017, TVH acquired two vintage Bombardier CRJ-900 NG passenger aircrafts, which are leased to the Estonian national airline Nordica and operated by Regional Jet, a joint venture between Nordica and the Polish National Airline LOT. The transaction was funded by the issue of bonds of 24 million euros, which were subscribed in equal parts by LHV Pank and LHV funds.