Riga Airport raises turnover 7% in 2021

• Published date: 27 May 2022
• Publication title: LETA

RIGA, May 27 (LETA) - Riga International Airport's turnover amounted to EUR 31.769 million last year, an increase of 6.7 percent from 2020, while the airport's losses decreased 40.7 percent to EUR 9.423 million, according to Firmas.lv.

loss of EUR 9.4 million represents EUR 10 million below the amount planned in the last year's budget, Riga Airport's representatives told LETA. The planned loss was reduced mainly due to higher turnover in both aviation and non-aviation revenue positions and targeted cost reductions.

The airport's turnover last year was 12 percent higher than projected, but only half of the turnover in 2019, when the airport turned over nearly EUR 65 million.

More than half of the revenue, EUR 18.9 million, was generated by aviation services, which is an increase of 8 percent as compared to the planned budget. This increase under conditions of reduced number of flights and passengers was mainly achieved because of a relatively small decrease in the direct passenger segment, which provides the airport with significantly higher revenue than service of transit passengers, as well as higher-than-expected revenue was generated from the growth in cargo flights, opening of the Ryanair base and other factors.

In turn, revenue from non-aviation services amounted to EUR 12.9 million or 20 percent above the budgeted amount.

Last year, Riga Airport invested EUR 6.7 million...