Riga International Airport attracts a global partner - TAV Airports Holding

Krišjānis Peters, Chairman of the Board of Riga International Airport, said: „The agreement signed with TAV Airports Holding is the most significant achievement in the last few years as well as a high international recognition of our input into the airport's development. Not only will it transform and improve the sales areas in the terminal, but also bring in more money in the rent payments for the airport's commercial space. This cooperation will double the airport's income and will be a certain guarantee that in the next decade the number of passengers at the existing terminal will be not only the airport's, but also its new business partner's concern. The experience of TAV operating in large air traffic hubs elsewhere in the world makes us confident that the terminal of Riga International Airport will become more modern and convenient for the passengers at the same time reflecting Latvia's identity and culture."

Over the last five years Riga International Airport has focussed on the development of non-aviation business. The airport has achieved the goal to double its ratio of non-aviation income, which at present accounts for more than 40 percent of the airport's total income and has tripled in the five year period.

With the view to raise the income from management of its commercial space and ensure modern world-class commercial services at the airport, Riga International Airport in summer arranged an international tender procedure for the rent of its commercial space and operation of its tax free sales area.

The rapid growth of Riga International Airport whose passenger traffic had grown threefold over the five year's period called for the change of the development concept of the commercial space. The qualification criteria for the tenderers were very demanding: long-term experience in management of commercial and tax-free trade areas in international airports, high financial turnover from operation of commercial space, excellent references from the airports and additionally - including of the goods manufactured in Latvia in the assortment of the tax-free shops.

The most advantageous cooperation terms and financial offer were submitted by TAV Airports Holding, who was selected as the winner of the tender procedure and awarded the contract in accordance with the terms of the tender procedure.

„This is a logical next step in the development of Riga International Airport whose further growth should be accompanied with modern and versatile range of services and shopping opportunities. I am convinced that in the future the passengers will be able not only to purchase the familiar items, but also, due to the new partnership, choose from a richer and better assortment of goods," said K.Peters.

In the result of the tender procedure Riga Airport will cooperate with a single operator of its commercial space instead of the several dozens of business partners currently working at the airport. The business model with a sole operator is more advantageous to the airport and will help increase the airport's revenues. Similar commercial partnership models are successfully applied in the majority of airports in Europe.

TAV Airports is the leading airport operator in Turkey with a market share of 48% as per 2009 State Airports Authority of Turkey (DHMI) passenger statistics include transfer passengers as well as being among the major players of the airport business in the World. TAV Airports operates Istanbul Atatürk Airport (one of the busiest airports in Europe), Ankara Esenboga Airport, Izmir Adnan Menderes Airport and Antalya Gazipasa Airport in Turkey, the Tbilisi and Batumi Airports in Georgia, Monastir and Enfidha Airports in Tunisia, as well as the Skopje and the Ohrid, in Macedonia. TAV Airports operates in other branches of airport operations as well; such as duty free sales, food and beverage services, ground handling services, information technologies, security and other commercial area operations. TAV Airports serves 375 thousand flights for approximately 300 airline companies and 42 million passengers on average per year. For more details www.tavairports.com