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Ellex Advises Estonian Air Navigation Services on EUR 13 Million Loan from Nordic Investment Bank

Ellex Advises Estonian Air Navigation Services on EUR 13 Million Loan from Nordic Investment Bank

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Ellex has advised state-owned Estonian Air Navigation Services on a EUR 13 million loan from the Nordic Investment Bank to improve the efficiency of air navigation services.

Estonian Air Navigation Services is a state-owned public limited company under the supervision of the Ministry of Economic Affairs and Communications. EANS provides safe and efficient air navigation services together with air traffic management for both manned and unmanned air vehicles.

According to Ellex, this “financial arrangement will support EANS’ investment program spanning from 2022 to 2025. The program includes upgrades to air traffic management systems, IT development, remote air control towers, communication systems, and other advancements to improve the efficiency of air navigation services.”

“The past two years have been challenging,” EANS CEO Ivar Vark commented. “To meet the demand for providing air navigation services in the most efficient, safe, and sustainable way, we need capital and smart investments towards the future.”

“Investments in air navigation systems are essential for safe and efficient transportation,” NIB Vice-President and COO Gunnar Okk added. “As the number of flights is expected to grow, merging the airspace between Estonia and Finland not only helps to accommodate the demand but can also reduce the burden on the environment.”

The Ellex team in Estonia included Partner Ermo Kosk and Counsel Toomas Kasesalu.

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