14-Oct-2009 11:53 AM

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

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.