RIX Riga Airport Posts EUR 3.4 million Profit in 2024

Author: Ilze Salna
Source: Riga-airport.com

RIX Riga Airport continues its steady growth – the number of passengers served in 2024 surpassed pre-pandemic levels (2019), and the company’s profit more than doubled compared to 2023, reaching €3.4 million, according to the audited annual report for 2024.

Passenger numbers continued to grow last year, reaching 7.1 million – a 7 % increase compared to 2023. Of all passengers served, 78% were direct passengers. The number of flights to and from Riga Airport also increased by 3 %, with a total of 63,000 flights handled.

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The rise in passenger numbers contributed to a growth in net turnover, which reached €77.63 million in 2024 – 7 % more than the previous year. Revenue from aviation services amounted to €44.87 million, while non-aviation services generated €32.76 million – a year-on-year increase of over 12%.

Several key investment projects were implemented during the year to enhance passenger experience, airport efficiency, and sustainability. In total, Riga Airport invested €16.2 million last year. Major projects included the purchase of electric buses for passenger transport (€3 million), continued reconstruction of the technical services building (over €2 million), and upgrades to the airport’s electrical infrastructure. The airport also completed a project to replace aircraft bridges and purchased an electric ambulift for passengers with reduced mobility, along with high-powered airside ground handling equipment.

“2024 was a pivotal year in the development of Riga Airport. Not only did we celebrate the airport’s 50th anniversary – honouring our history and collective achievements – but we also looked firmly toward the future. We rebranded the airport, giving it a modern, internationally competitive identity that clearly supports our strategic goal of becoming the future travel hub of Northern Europe. Our progress is reflected in the results – strong passenger volumes, solid financial performance, and significant advances in sustainability and infrastructure development. This year, we continue implementing major upgrades that will allow us to accommodate more passengers, reduce our environmental impact, and reinforce Latvia's position on the Nordic aviation map. Moreover, in the second half of 2025, following the conclusion of an international construction tender, we plan to launch the expansion of the Riga Airport’s passenger terminal, for which we have already received binding financing offers from international financial institutions. This is a testament to Riga Airport's corporate reliability and financial stability,” said Chairperson of the Board of RIX Riga Airport, Mrs. Laila Odiņa.

According to the Global Reporting Index (GRI) standards, Riga Airport has also published its audited non-financial report outlining its sustainability strategy results. The airport’s commitment to sustainability has been recognised with the highest ‘Diamond’ rating in the Sustainability Index. In 2023, the company updated its NetZero roadmap, pledging to reach climate neutrality by 2035. Significant reductions in CO₂ emissions have already been achieved, with the airport reaching Level 3 of the international “Airport Carbon Accreditation” (ACA) programme. Key contributors to these results include the development of solar panel parks and replacing ageing diesel-powered buses with new electric buses used for airside passenger transport.

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