Today on May 14 the Ministry of Transport of the Republic of Latvia in association with Riga International Airport, national carrier airBaltic, and the leading global management consulting firm Boston Consulting Group are organizing the first discussion to gather representatives of the parties directly and indirectly affected by the aviation industry at Hotel Bergs to analyse growth figures of the aviation industry in the last few years, review the potential development perspectives, and discuss the opportunities for strategic growth of the aviation industry.
The discussion is 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 the industry players should face in the near future.
Aviation industry has an untypically strong impact on Latvian economy and GDP compared to other regions. Fluctuations and changes in the industry inevitably affect the overall economic figures of Latvia. Although Riga International Airport and national carrier airBaltic have seen positive growth in the last few years, the study carried out by the international management consulting firm Boston Consulting Group shows that without a long-term development strategy and investments into the industry it might face recession in the near future. It is important to have the discussion on the industry trends in order to make a decision on the future development strategy of the aviation industry. The present situation is not sustainable.
The discussion will be opened by Anrijs Matiss (Anrijs Matīss), Minister of Transport of the Republic of Latvia. Andris Liepins (Andris Liepiņš), Chairman of the Board of Riga International Airport will tell about the challenges of the industry from the perspective of the airport growth, report on the investments made into the airport infrastructure so far, growth related opportunities and risks, whereas Martins Gauss, CEO of the national carrier airBaltic will speak about the challenges of the industry from the perspective of the airline growth and demonstrate a plan to ensure and improve the performance of airBaltic in the next few years and introduce the necessary initiatives.
Riga International Airport and airBaltic appreciate their cooperation and the fact that airBaltic has become the most punctual airline in the world should serve as proof. Planning synergy and openness to opportunities for mutual cooperation are essential for the future of the industry.