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Latvian Government annuls Riga Airport management contract due to falling passenger traffic

14-Oct-2009 11:53 AM

Latvian Government stated it annulled the contract of TAV Airports and Skonto Buve to manage Riga International Airport and construct a new terminal due to a decline in passenger traffic amid the global financial downturn (The Moodie Report, 13-Oct-2009). The JV was to commence construction of the EUR200-250 million terminal in 2010. The terminal had design capacity of approximately 30 million passenger p/a.