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]
Latvian Government approves building of new airBaltic terminal
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On 28-Nov-2016 airBaltic took delivery of the world's first Bombardier CS300 for commercial service, which will begin on 14-Dec-2016 with a flight from Riga to Amsterdam. It will receive a further 19 of the aircraft variant by 2019.
Just five years ago airBaltic was heavily loss-making and close to bankruptcy. Under CEO Martin Gauss Latvia's national airline has negotiated a successful restructuring programme, established a track record of growing profits, secured a private investor alongside the national government, made significant load factor gains, and is now returning to capacity growth.
The new CSeries order should allow airBaltic to build on these achievements by replacing its ageing Boeing 737s with one of the most modern and efficient narrowbodies aircraft in the world, while also providing additional growth capacity. Together with its Dash-8 turboprop aircraft this purchase should give it a fleet well adapted to the niche needs of a hybrid regional hub airline based in northern Europe's smaller markets.