{"id":2790,"date":"2026-04-21T23:19:33","date_gmt":"2026-04-21T20:19:33","guid":{"rendered":"https:\/\/tvh.ee\/?p=2790"},"modified":"2026-04-21T23:19:57","modified_gmt":"2026-04-21T20:19:57","slug":"minister-of-infrastructure-approved-the-annual-report-of-tvh-for-2025","status":"publish","type":"post","link":"https:\/\/tvh.ee\/en\/minister-of-infrastructure-approved-the-annual-report-of-tvh-for-2025\/","title":{"rendered":"Minister of Infrastructure Approved the Annual Report of TVH for 2025"},"content":{"rendered":"

Photo credit: Siim L\u00f5vi\/ERR<\/em><\/p>\n

The Minister of Infrastructure, acting in the capacity of sole shareholder of O\u00dc Transpordi Varahaldus (TVH), approved the company\u2019s annual report at a shareholders\u2019 meeting held on April 7, 2026.<\/p>\n

In accordance with the owner\u2019s expectations confirmed at the end of 2024, the state decided to exit the aviation asset management business and tasked TVH with carrying out the sale of the company\u2019s assets and the activities necessary for its dissolution. The company owned seven Bombardier CRJ900NG 88-seat passenger aircraft, aircraft engines and other aviation assets, which have now been sold off almost in their entirety.<\/p>\n

According to the audited financial statements for the 2025 fiscal year, the company\u2019s total assets amounted to 26.1 million euros and its equity to 25.35 million euros. As of the end of the fiscal year, the company had no significant liabilities, as a previously taken investment loan was repaid to LHV bank early by mutual agreement.<\/p>\n

TVH\u2019s loss for the past fiscal year amounted to 7.3 million euros. The main causes of the loss were the costs of TVH\u2019s aircraft parking and maintenance program (approximately 2.1 million euros), the bankruptcies of AS Nordic Aviation Group (Nordica) and Regional Jet O\u00dc, which leased TVH\u2019s aircraft, resulting in the recognition of receivables arising from lease agreements as unlikely to be collected (approx. 0.8 million euros), and financial expenses, primarily in the form of bank loan interest (approx. 1.0 million euros). A significant change in the USD\/EUR exchange rate during the period also had a material impact on the loss for the financial year (approx. 3.9 million euros).<\/p>\n

TVH is a state-owned company established in 2015 with the objective of operating as an investment company, financing and managing investments in fixed assets in the transport sector, including for leasing purposes.<\/p>\n

The company\u2019s annual report was audited by AS KPMG Baltics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Minister of Infrastructure, acting in the capacity of sole shareholder of O\u00dc Transpordi Varahaldus (TVH), approved the company\u2019s annual report at a shareholders\u2019 meeting held on April 7, 2026. In accordance with the owner\u2019s expectations confirmed at the end of 2024, the state decided to exit the aviation asset …<\/p>\n","protected":false},"author":1,"featured_media":2797,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-2790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nMinister of Infrastructure Approved the Annual Report of TVH for 2025 - Transpordi Varahaldus<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tvh.ee\/en\/minister-of-infrastructure-approved-the-annual-report-of-tvh-for-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minister of Infrastructure Approved the Annual Report of TVH for 2025 - Transpordi Varahaldus\" \/>\n<meta property=\"og:description\" content=\"The Minister of Infrastructure, acting in the capacity of sole shareholder of O\u00dc Transpordi Varahaldus (TVH), approved the company\u2019s annual report at a shareholders\u2019 meeting held on April 7, 2026. 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