newstodate.aero
Dec 04, 2017 (newstodate): A fresh study published on November 30, 2017, by Latvia's Aviation Association confirms the crucial and growing importance of the country's aviation business.
In 2016, the total contribution of the Latvian aviation industry to the country's GDP grew by 12.4 percent and now accounts for 2.6 percent of Latvia's GDP, the study tells.
Analyzing the structure of value added by the aviation sector, it is estimated that airBaltic's contribution to the Latvian economy accounts for 26 percent, and that of Riga Airport for 21 percent of the total contribution, proving the fact that these companies dominate the sector and are intimately intertwined.
The share of air transport in the total export of services accounted for 8.9 percent in 2015, reaching 9.1 percent in 2016, and Riga Airport handled 44 percent of all passengers served in airports of the Baltic States, the study shows.
Riga Airport's cargo volumes are also steadily increasing. In 2016, the total tonnage increased by 4.2 percent, and in 2017 the growth will be a two-digit number. Besides, all airlines will witness growth in cargo.
-Thus the concerns that the entry of Turkish Cargo could reduce the volumes of cargo of other airlines turned out not to be justified, the study finds.
In 2016, airBaltic handled 48.5 percent of the entire cargo volume at the Airport.
In 2017, Turkish Cargo could rise from the ninth to the fourth or third place, increasing its share in cargo transport from 2 to 6-7 percent.
The Aviation Association of Latvia has 40 members, who last year employed 3,993 people, 101 employees more than in 2015.
In 2016, the total contribution of the Latvian aviation industry to the country's GDP grew by 12.4 percent and now accounts for 2.6 percent of Latvia's GDP, the study tells.
Analyzing the structure of value added by the aviation sector, it is estimated that airBaltic's contribution to the Latvian economy accounts for 26 percent, and that of Riga Airport for 21 percent of the total contribution, proving the fact that these companies dominate the sector and are intimately intertwined.
The share of air transport in the total export of services accounted for 8.9 percent in 2015, reaching 9.1 percent in 2016, and Riga Airport handled 44 percent of all passengers served in airports of the Baltic States, the study shows.
Riga Airport's cargo volumes are also steadily increasing. In 2016, the total tonnage increased by 4.2 percent, and in 2017 the growth will be a two-digit number. Besides, all airlines will witness growth in cargo.
-Thus the concerns that the entry of Turkish Cargo could reduce the volumes of cargo of other airlines turned out not to be justified, the study finds.
In 2016, airBaltic handled 48.5 percent of the entire cargo volume at the Airport.
In 2017, Turkish Cargo could rise from the ninth to the fourth or third place, increasing its share in cargo transport from 2 to 6-7 percent.
The Aviation Association of Latvia has 40 members, who last year employed 3,993 people, 101 employees more than in 2015.