Riga Airport earned a profit of 3.4 million Euros in the year 2024
Riga Airport, the primary gateway to Latvia, has reported a significant increase in passenger numbers, flights, and net turnover for the year 2024.
According to the airport's own data, the total number of flights served at Riga Airport in 2024 was 63,000, a 3% increase from the previous year. This growth was reflected in the number of passengers served, which reached 7.1 million in 2024, a 7% increase from 2023.
The net turnover figure for Riga Airport in 2024 was EUR 77.63 million, a 7% increase from the year before. This growth was driven by both the airport's revenue from aviation services (€44.87 million) and non-aviation revenue (€32.76 million). The non-aviation revenue saw an impressive increase of more than 12% compared to the previous year.
One of the key projects implemented in 2024 was the reconstruction of the power supply infrastructure, and the technical services building, which cost more than EUR 2 million. Another significant investment was the purchase of new electric buses for passenger transport, which cost EUR 3 million. In total, Riga Airport invested EUR 16.2 million in several significant investment projects in 2024.
Looking forward, Riga Airport is undertaking a significant expansion project in 2025. This development includes constructing a new passenger terminal, a baggage handling and sorting complex, new access roads, and a multi-storey car park. The aim is to support the airport's growth in passenger numbers and improve connectivity within Europe, including expanding routes by airBaltic and other carriers.
While binding offers from international financial institutions have been received for this project, the names of the banks or financiers involved have not been disclosed. The expansion is expected to significantly improve terminal capacity and infrastructure to accommodate growing passenger traffic and airline operations.
Laila Odiņa, Chair of the Airport Board, stated that improvements will be made to accommodate more passengers, reduce environmental impact, and strengthen Latvia's role in the Nordic countries' aviation map. The international construction tender for the expansion of the airport's passenger terminal is planned to conclude in the second half of 2025.
In 2023, Riga Airport served a total of 6.6 million passengers. The number of flights served at the airport in 2023 was 61,170.
[1] Source: Riga Airport Press Release
[2] Source: Latvian Investment and Development Agency
[3] Source: Latvian Public Broadcasting
- The significant increase in passenger numbers, flights, and net turnover at Riga Airport in 2024 is benefiting the local economy and businesses, as well as improving travel and lifestyle opportunities for the people of Latvia.
- The European Union (EU) may play a role in financing the expansion project at Riga Airport, which is expected to improve terminal capacity, infrastructure, and environmental impact, potentially boosting Latvia's role in regional aviation.
- Technology advancements were evident in Riga Airport in 2024, with the reconstruction of the power supply infrastructure and the purchase of new electric buses for passenger transport.
- Looking beyond 2024, the expansion of Riga Airport in 2025 is expected to provide better transport connections within Europe, particularly with routes expand by airBaltic and other carriers, further boosting the airport's role in the region.
