Press Release

Issued by Panaviatic.

April 16, 2014

The most modern maintenance complex for business jets, the largest in the Baltic states, was opened at the Tallinn airport on the 15th of April. The total area of hangars is 5,230 square meters and the investment was close to 5 million euros. The hangar that is heated all year round accommodates eight mid-sized business jets and one aircraft the size of Boeing 737. The complex will be rented from AS Tallinn Airport by Panaviatic, operator of business aviation.

"The development of the business environment requires diversified infrastructure,” minister for economic affairs and communications Urve Palo. "Aviation is important to Estonia and has to be given all-round attention. Business aviation offers many entrepreneurs a convenient alternative for doing business when regular flights are not fast enough. I believe this will win Estonia both new investments and jobs.”

“Additional services are important for Tallinn Airport because they will Tallinn more attractive for airlines and passengers,” said Rein Loik, chairman of the management board of Tallinn Airport. "Panaviatic has been a reliable cooperation partner that can bring both new aircraft and new carriers to Tallinn. The maintenance complex opened recently will definitely help to convince new airlines to open more routes to Tallinn.”

"The hangars are the largest in the Baltic states and, according to plans, will be servicing aircraft within a distance of up to 3,000 kilometers from Tallinn,” explained Panaviatic's chairman of supervisory board Jüri Pihl. "Because of lack of such structures, there is need of larger maintenance complexes across whole Europe. The facility is targeted especially at business jets the maintenance demand of which has been increasing. Since a need for longer flights has emerged on the market, Panaviatic must also consider acquiring longer range aircraft next to its six Bombardier Learjet jets".

“Until now we were operating in unheated hangars. The new maintenance hangars will bring our operations to a totally new level,” added Aleksei Kulakovski, chairman of the management board of Panaviatic AS. “In addition to the technical maintenance of aircraft operated by us, we can now offer top-level service also to other business jet operators. The complex for maintenance of business jets in Tallinn Airport is the newest and most modern such facility in Europe and enables us to offer more professional maintenance and service for business jets.”

The maintenance complex for business jets was built by Tallinn Airport and will be rented by Panaviatic AS. The complex built by Astlanda Ehitus OÜ represents an investment of close to five million euros.