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Photo: Riga International Airport

RIX posts €10mn profit on €60.8 turnover

Net turnover at Riga International Airport, the Baltics’ biggest, increased in 2018 by 11% on the previous year.

Net turnover at the Baltics’ biggest airport reached €60.78 million for 2018, according to the Latvian hub’s unaudited interim statement, up 11% on the previous year.

This allowed Riga International Airport to close the year with a profit of slightly more than €10 million.

Profit for the year was “significantly influenced by higher-than-planned budgeted aviation revenue”, which increased 21% to reach €38.13 million, the airport said.

Other positive contributions included “reversed accruals recognised in the financial statement for 2017, as well as accruals for litigation costs established according to the accounting policy”.

Revenue from non-aviation services in the reporting period amounted to €22.65 million. This included the lease of premises and land.

Into 2019
Operational data from the first two months of 2019 show that the number of passengers will continue to grow this year.

The airport handled almost 900,000 passengers in January and February, an increase of 6.1% over the same period last year.

RIX ended 2018 with a new passenger record, 7.06 million passengers, almost 16% more than the previous year.

The rapid growth allowed it to rank fourth in the list of European airports handling five to ten million passengers a year, according to Airports Council International.

The 20 airlines operating at RIX offer more than 70 destinations in the winter season and 100 destinations in summer. In 2018, it handled over 7 million passengers, against just over 6.3 million at Lithuania’s three international airports and 3 million at Tallinn Airport.

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