Latvia’s Riga International Airport (RIX) has unveiled its new medium-term development strategy until 2027, which entails more than $282.5m (€247m) in investment.

Under this strategy, called ‘Runway 2027’, the airport will invest in advanced and sustainable airport infrastructure and services. Its strategy will also focus on increasing passenger numbers and cargo turnover.

In addition, RIX has set a target to transform itself as Northern Europe’s significant aviation centre, supporting the ‘connectivity and competitiveness of Latvia within the region’.

Riga Airport Board chairperson Laila Odiņa said: “The growth rates during the pre-pandemic years evidence stable and unquestionable leadership of Riga Airport in the Baltic States.

“Thanks to the successful development of infrastructure, growth of the national carrier airBaltic, competitive tariff policy and by using the advantages provided by the geographic location, Riga Airport has positioned itself as a regional air traffic hub in Northern Europe.”

As part of its ‘Runway 2027’ plan, RIX plans to make an investment of $177m (€155m) for expanding the passenger terminal and for installing an automatic luggage sorting system, road construction, viaducts and car parking areas.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Approximately $66m (€58m) will be used for reconstructing and renovating aircraft aprons, taxiways and for replacing aerodrome transport machinery and other necessary investments.

RIX has set a target of nine million passengers and 48.5 thousand tonnes of air cargo serviced per year by 2027. It also aims to reduce airport’s carbon emissions under its strategy.

Furthermore, the strategy aims to create an airport city centre, featuring a passenger terminal with a yearly capacity of 12 million.

It will be linked to Rail Baltica railway station to create a multi-modal transport hub.

RIX Airport City will be developed around the airport, with hotels, office centres, logistics, air cargo and e-commerce warehouses.

RIX Airport Board member Artūrs Saveljevs said: “We will develop the Airport City as a multi-modal traffic and logistics centre connecting various modes of transport and creating a successful environment for business development.

“By ensuring varied services, work, meetings, knowledge exchange and recreation for the travellers and local residents, Riga Airport will be formed into a self-sufficient destination.”

In July last year, RIX joined ACI Europe’s initiative Net Zero 2050, pledging to reach full carbon emission reduction in the emission sources under its direct control by 2050.