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Riga International Airport Profits raised through Economic Activities

The Chairman of the Board of Riga International Airport, Arnis Luhse, has submitted a report to the governing body of the Ministry of Transport regarding the company’s financial results for the period covering the first three months, showing that the airport made profits of half million lats from its economic activities. As a comparison, the airport suffered losses of fifteen thousand lats in the first quarter of the year before.

“By optimising expenses, we have managed to build a profit from the airport’s economic activities,” the Chairman of the Board of Riga International Airport, Arnis Luhse, pointed out.

An essential fact is that the income from renting out the terminal’s commercial property has increased significantly when compared to the same period last year, with a total of slightly more than 1.5 million lats being collected (against last year’s figure of 725,000 lats).
Similarly, non-aviation income has also increased, with areas such as the luggage office, the ticket service and others delivering 164,000 lats this year, compared to last year’s figure of 90,000 lats.

On the other hand, with the arrival of a second, private ground handling company in the airport, the income from ground handling services has decreased significantly; in the first quarter of last year slightly more than one million lats was collected, but only 438,000 lats were collected this year.

It must be mentioned that the number of attended flights has grown in the first quarter when compared to last year; 15,373 this year against 14,368 last year. Similarly, the number of passengers being serviced has also increased; 939,630 for this year and 914,386 for last year.