The Latvian government has approved the construction of a new terminal by airBaltic at Riga International Airport.
airBaltic president and CEO Bertolt Flick commented, “The infrastructure of the Riga International Airport has already reached its design capacity limits, and so a new terminal is needed to accommodate the growing passenger numbers.”
airBaltic plans to build a terminal with a floor space of 58,000 sq m and which will be able to handle up to 15 million passengers a year. Total investments are expected to amount to more than €92 million. Investments will come from the private sector, and, according to the airline, the project will require no funding or guarantees from the state.
airBaltic will negotiate with the TAV company on the construction and operation of the terminal. The airline is also negotiating with several banks on project financing. Bids for tender on construction and architectural design will be launched in the near term.
Riga International Airport saw a passenger increase of 10.2% last year and expects a 15% increase this year. airBaltic achieved an increase in passenger numbers of more than 30% at Riga, its home base, last year, and earned record profits of €20 million.
Although Trump’s geopolitics policy for Europe remains unclear, defence analysts from the US and Europe predict how his incoming administration would attempt to handle critical issues on the continent.
The UK budget announced in Parliament on 30 October was the first by a Labour government in 14 years which has also launched a review into defence procurement programmes.
The Australian government has placed a focus on Guided Weapons and Explosive Ordnance (GWEO) which has included the purchase of additional long-range rocket systems and investments in local production of missiles.
The UK budget announced in Parliament on 30 October is the first by a Labour government in 14 years. While it sees a boost in defence spending, this comes in the face of fiscal challenges and the effects of inflation.
The changes are intended to meet greater need and deliver more value for money.
BAE Systems, Booz Allen Hamilton and Lockheed Martin have been betting on new facilities and innovative manufacturing technologies to speed up the development of new solutions.
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