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New winter season flights from Riga Airport: Abu Dhabi (AirBaltic), Eilat (Wizz Air), Malta (Ryanair). Enjoy the flight!

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First Discussion Dedicated to Growth Prospects of Aviation Industry

In order to make an in-depth analysis of the aviation industry development indicators over the last years, to look at the industry growth perspectives and assess the prospects  of the strategic development of the aviation industry, the Ministry of Transport of Latvia, Riga International Airport, the national carrier airBaltic and the leading global management consulting firm Boston Consulting Group  on 14 May held the first discussion of the direct and indirect stakeholders of the aviation industry.

The discussion was based on a study conducted by Boston Consulting Group on the development of Latvia’s aviation industry, the potential alternatives for development, emphasizing the critical impact of the industry on the national economy, mobility, and investment climate. The study analyses strategic growth trends of the aviation industry and challenges that the industry players would face in the near future.

Compared to other regions, the aviation industry has an untypically strong impact on the Latvian economy and GDP. Fluctuations and changes in the industry inevitably affect the overall economic figures of Latvia. Although Riga International Airport and the national carrier airBaltic have seen growth in the last few years, the study conducted by the international management consulting firm Boston Consulting Group warns that without a long-term development strategy and investments into the industry it may face decline in the near future. It is essential to have the discussion on the industry trends in order to make a decision on the future development strategy of the aviation industry.

Both Riga International Airport and airBaltic highly value their cooperation and the fact that airBaltic has been recognized as the most punctual airline worldwide is a proof of that. Planning of mutual synergy and openness to opportunities for cooperation are essential for the future of the industry.