newstodate.aero

Apr 21, 2022 (newstodate): The industrial distortion from Russia's  invasion of Ukraine is taking a heavy toll on Riga Airport, in Latvia.
   In January 2022, the growth in the airport's air cargo volumes was 28 percent, y-o-y, to 2,451 tonnes, and in February the volumes handled were up 63 percent to 2,430 tonnes.  
   But after the Russian/Ukrainian war things have changed dramatically.
   In March 2022 the airport is thus seeing cargo volumes down by 35 percent, y-o-y, to 1,488 tonnes, compared to 2,469 tonnes in the preceding month in 2022.
   Volumes in Q1, 2022, are thus 6,408 tonnes, still up 13 percent, y-o-y, while Jan-Feb volumes were up a hefty 43 percent, y-o-y.
   So far, Riga Airport has been thriving on Asia-Europe e-trade shipments. However, the region's logistics sector is now experiencing severe effects from the sanctions imposed on Russia.
   -We are not a link between East and West anymore, but suddenly we have become a country on the edge of the world. After a first shock, we are now seeking new ways to restore business, a source in the Latvian air cargo industry earlier told newstodate.