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 Blumfeldt, member of management board, the company acquired aircraft engines with sufficient service life from the aftermarket, which will enable the lessee (AS Nordic Aviation Group) to carry out heavy maintenance of TVH-owned aircraft more efficiently. He added that according to preliminary unaudited financial results, TVH closed 2022 with a net profit of €2.9 million on a turnover of €8.5 million, and that by end of the year TVH’s assets on the balance sheet amounted to €78.2 million.
TVH is a state-owned company whose purpose is to act as an investment vehicle, financing and managing investments into fixed assets in the transport sector. The company’s assets include seven CRJ900 Next-Generation jet airliners.