Latvian Government approves building of new airBaltic terminal

Latvian Government approved (09-Feb-2010) the construction of a new terminal at Riga International Airport by airBaltic. airBaltic plans to construct a 58,000 sqm terminal with the capacity to handle up to 15 million passengers p/a. Total investments is expected to exceed EUR92 million, with the development due to be wholly funded by the private sector, with no guarantees from the state. airBaltic is negotiating with several banks on project financing and will negotiate with TAV on the construction and operation of the terminal. Bids for tender on construction and architectural design will be launched in the near term. The airport's overall capacity will be lifted to approximately 12.7 million passengers p/a by 2013 with development of the new terminal and an extension of the existing terminal (The Baltic Course, 09-Feb-2010). [more]