NEWS
TVH continued to operate profitably in 2023
According to the audited results of OÜ Transpordi Varahaldus (TVH) for 2023, the company’s net profit, excluding the effect of asset impairment, was EUR 1.8 million (EUR 2.3 million in 2022) and the annual turnover was EUR 10.61 million. However, the financial year closed with a loss of EUR 10,6 million …
TVH acquired eight engines and closes 2022 with a profit
In December 2022, Transpordi Varahaldus OÜ (TVH) acquired eight CF34-8C5A1 jet engines manufactured by General Electric to operate the company’s fleet more efficiently. At the same time, TVH signed agreements for the lease-out of four of the purchased engines and the sale of six vintage engine cores. According to Ergo …
TVH acquires two vintage GE engines
Transpordi Varahaldus acquired two second-hand aircraft engines for more efficient operation of the company’s fleet of CRJ900 NextGen aircraft.
The Estonian government-owned Transpordi Varahaldus OÜ (TVH) has acquired two aftermarket CF34-8C5A1 jet engines manufactured by General Electric in order …
TVH 2021 financial results in profit of EUR 2.7 million
On April 22nd, 2022 the annual general meeting of shareholders of OÜ Transpordi Varahaldus (TVH) – the Minister of Economic Affairs and Infrastructure Taavi Aas, as the representative of the sole shareholder – the Republic of Estonia, approved the company’s annual report for the financial year 2021, recording …
TVH Bonds Refinanced by LHV Bank
Seven Bombardier CRJ900 type aircraft owned by Transpordi Varahaldus OÜ (TVH) are now fully financed by LHV Pank, while Estonia’s national airline Nordica continues as their lessee. Government-owned TVH refinanced its previously issued bonds with a 23 million euro loan from an Estonian LHV Pank. In 2017 and 2018, TVH issued bonds with a 23 million euro …
TVH 2020 financial year operating profit 1.83 million
According to the audited financial results for 2020 the operating profit of OÜ Transpordi Varahaldus (TVH) was 1.84 million euros at a 9.38 million euro annual turnover. According to the member of the management board Ergo Blumfeldt, the last financial year was the most complicated in commercial aviation …
New members of the supervisory board: Ave Henberg and Raoul Lättemäe
On May 4th, 2021 the minister for economy and infrastructure, acting as the representative of the sole shareholder of Transpordi Varahaldus OÜ, recalled Katrin Andre ja Kaupo Raag from the supervisory board of the company and appointed two new members.
TVH 2019 financial year net profit 3.2 million
According to the audited financial results for 2019, the annual turnover of OÜ Transpordi Varahaldus (TVH) was 9.1 million euros and net profit was 3.2 million. Minister of economic affairs and infrastructure who exercises the rights of the sole shareholder of TVH approved the annual report which was audited by …
Transpordi Varahaldus OÜ joined Estonian Aviation Cluster
Estonian Aviation Cluster www.eac.ee is a non-profit association established in early 2019. It unites aviation-related Estonian undertakings and organisations and through cooperation, seeks involvement in creation of the national aviation strategy and also aims at increasing the attractiveness of Estonia …
TVH profits 3.6 million in 2018
According to the audited annual accounts of Transpordi Varahaldus OÜ for 2018 the company’s profit for the last financial year were 3.6 million euros at a turnover of 7.9 million euros. Compared to the previous financial year 2017 the company’s turnover increased 14% while its profit went up by 24%. The annual accounts of the company were audited by AS Deloitte Audit …
TVH acquired its seventh aircraft
As a result of a successful bond issue of 10 million euros OÜ Transpordi Varahaldus acquired an additional CRJ900 NextGen type aircraft, which was long-term leased to the Estonian national airline Nordica. In December 2018 Transpordi Varahaldus OÜ (TVH) issued securities amounting to 10 million euros with an 8-year maturity. Securities…
Results of 2017 approved by the sole shareholder
At the annual general meeting of shareholders of OÜ Transpordi Varahaldus (TVH) held on 30 May 2017, Mrs Kadri Simson, Estonian Minister of Economic Affairs and Infrastructure, approved the state-owned company’s second annual report, which indicates the company’s turnover for…
2.9 million profit for TVH in 2017
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 …
The first financial year for TVH ends in profit
At the May 25, 2017 annual general meeting of shareholders of OÜ Transpordi Varahaldus (TVH) Kadri Simson, Estonian Minister of Economic Affairs and Infrastructure, approved the state company’s first annual report, which indicates the Company’s turnover…
The largest commercial investment in Estonian aviation
As a result of successful issue of bonds of Transpordi Varahaldus (TVH), TVH is now to acquire two CRJ900 NextGen type aircraft which it will rent out long-term to Estonia’s national airline AS Nordic Aviation Group (Nordica). Half of the…
TVH aircraft to start flying Nordica routes
As a result of an international competition carried out by Lufthansa Consulting, OÜ Transpordi Varahaldus (TVH) is to rent three Bombardier CRJ-900NG passenger planes to Estonian airline AS Nordic Aviation Group (Nordica) for a duration of thirteen years. Ergo Blumfeldt,…
TVH acquired lease agreements for three aircraft
OÜ Transpordi Varahaldus, founded by the state, acquired for 31 million euros from EDC (Export Development Canada), a Canadian export agency, the lease agreements of three passenger planes previously used by Estonian Air. “These aircraft were built …