Rīga Airport reports profits for 2022

Although the aviation sector was significantly affected by Russia's war in Ukraine last year following the global pandemic, the Rīga International Airport ended 2022 with a turnover of €58 million, 5.4 million passengers, 55 thousand service flights, and 286 thousand euros in profits, the airport spokeswoman Ilze Salna said May 31.

The airport's net turnover was nearly €58 million in 2022, an increase of 82% compared with 2021, and 11% above budget plan. This growth was mainly driven by revenues from aviation services of less than €36 million (or +91% versus 2021), particularly due to a significant increase in passenger volume following the reduction of pandemic restrictions in the first half of the year.

Similarly, compared to 2021, revenues in the non-aviation sector have increased significantly, by 70%, and reached EUR 22 million. This share of revenue has also achieved a better outcome than expected in the budget (+21%).

"2022 is considered a year of stabilization. Not only have we completed it with a positive result, but we could also move from the planning and project development phase to the implementation of strategic documents and start working on a number of projects relevant to the future of the airport. Thanks to the vast number of destinations, many of which are offered as the only ones in the Baltic, Riga airport is and will be attractive to travelers in our region," said Laila Odiņa, Chair of the airport board.

Rīga airport paid EUR 15.62 million in taxes last year.

The total investment in the airport amounted to €14.7 million in 2022, modernizing both the passenger and aircraft service infrastructure and the electricity supply system, as well as improving safety, emergency and IT infrastructure.


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