OÜ Transpordi Varahaldus (TVH), a state-owned company managing aviation assets (TVH), handed over the last of seven Bombardier CRJ900 passenger aircraft to Regional One, thereby successfully completing the aircraft sale agreement signed in the summer of 2025.

“The sale of the state’s aviation assets has been a long and thorough process, but today we can say that it has reached a successful conclusion. The TVH management team has done professional work in a challenging market to ensure the best possible outcome for taxpayers and the realization of assets on best market conditions,” said Minister of Infrastructure Kuldar Leis. “The state’s role is not to invest into sectors where free market is functional, and therefore exiting the aviation business was the right decision,” added Leis.

Although six aircraft were already transferred last year, the handover of the last aircraft took somewhat longer due to technical reasons related to finalizing the agreements and documentation necessary for replacing its leased landing gears.

According to Ergo Blumfeldt, a member of TVH’s management board, the sales process as a whole has been successful. “The aircraft, which had been parked at Tallinn Airport over the past year, required a standard technical inspection prior to handover to the buyer. Thanks to the excellent work and professionalism of the Jettech Airworthiness Solutions, our CAMO organization, the necessary spare parts were found on the international market. Maintenance and repair work on the TVH aircraft was carried out by Magnetic MRO. “The final sale price of the aircraft was $37.5 million,” Blumfeldt explained.

In addition to the seven passenger aircraft, TVH has sold off nearly all of its other aviation assets: a spare parts pool intended for the operation of Bombardier-type aircraft, and all six additional aircraft engines, which generated a total of approximately $5 million in revenue during the previous and current fiscal years.

OÜ Transpordi Varahaldus is a state-owned company established in 2015 with the objective of investing in, managing, and leasing fixed assets in the transportation sector. In accordance with the owner’s expectations, the state has decided to exit the aviation asset management business and has tasked TVH with carrying out the company’s asset sale processes and the activities necessary for its dissolution.