Rīga Airport reports more than quadruple annual profit

State JSC RIX Riga Airport finished 2023 with a profit of EUR 1.6 million, which is EUR 1.3 million or 4.6 times more than a year earlier. The company's net turnover increased by a quarter to EUR 72.5 million in 2023, according to RIX Riga Airport's unaudited condensed interim report for 2023.

Riga Airport's net turnover last year consisted of revenues from aviation services amounting to EUR 36.7 million (an increase of 18%), while non-aviation revenues amounted to EUR 21.2 million, or 38% more than a year earlier.

Labor, energy, and infrastructure maintenance costs rose, and the company's operating costs also increased by a fifth, totaling €76 million in 2023.

In 2023, total investments in the development of Riga Airport amounted to EUR 22 million.

The airport reported that last year, new explosives detection systems for screening hand luggage and checked baggage, implemented with the support of the European Union Cohesion Fund, were put into operation, as well as more safety equipment. At the end of the year, two rebuilt electricity supply substations included in the Airport's electrical infrastructure renewal plan were put into operation.

Part of the investment has also been directed towards greening the infrastructure - the development of electric car charging points and the purchase of electric buses - the first of which will start transporting passengers at the airport in the spring, while a total of nine electric buses have been purchased to replace diesel buses.

In 2023, 19,000 tonnes of air cargo were handled. Due to the geopolitical situation, the demand for air freight is down by 9% compared to 2022.


Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles


Most important