The airline ‘Norwegian Air Shuttle’ does not currently plan to expand its base at Riga International Airport, said the company’s CFO Hans Jørgen Wibstad in an interview with LETA.
He noted that currently two ‘Norwegian’ aircraft are based in Riga.
Wibstad pointed out that the company is considering new opportunities; however, at this moment there are no specific plans for base expansion.
Nevertheless, he added that the airline continues to increase the number of destinations from Riga — for example, next year ‘Norwegian’ will begin direct flights from Riga to Bergen (Norway).
“ We see that Riga is a very attractive destination for both business and tourist trips. There are many Scandinavian companies and banks in Latvia, so there is demand from Latvian travelers to Europe as well as from Norwegians, Swedes, and Danes wishing to visit Riga,” Wibstad noted.
He also reported that the ‘Norwegian’ office in Riga on Gustav Zemgala Street currently employs about 160 people, and several departments operate there, including finance, IT, and customer service.
According to him, the Riga office significantly complements the airline’s headquarters in Oslo (Norway) and contributes to the company’s efficiency.
“ We are pleased with how the office in Riga has developed over the past five years. Initially, there was some uncertainty, but now a stable, qualified, and motivated team has formed in Riga,” emphasized Wibstad, adding that the airline plans to stay in Riga for a long time.
He also indicated that the office will continue to operate on Gustav Zemgala Street for now, but the company has opportunities for expansion if needed.
Wibstad named the national airline of Latvia, airBaltic, as the main competitor of ‘Norwegian’ in Riga, followed by the Irish low-cost carrier Ryanair.
He acknowledged that the competition is serious; however, according to him, ‘Norwegian’ has a “Scandinavian character” in its offerings, and the company is satisfied with its operations in Riga, thus intending to continue its development and seek new destinations.
When asked whether ‘Norwegian’ might consider purchasing shares in airBaltic as part of a potential initial public offering (IPO), he replied that ‘Norwegian’ does not consider such an opportunity.
“ Of course, ‘Norwegian’ monitors the actions of competitors and what is happening, but we will not buy shares in airBaltic during the IPO, whenever it may take place,” Wibstad added.
He also reported that the ‘Norwegian’ fleet currently consists of 93 aircraft, and the company plans a gradual annual growth of 4–5%. A total of 80 aircraft have been ordered, with deliveries scheduled until 2031.
“ This is a targeted but not aggressive growth, focusing on the markets of Northern Europe and the Baltics, rather than Central Europe,” he noted.
It was previously reported that ‘Norwegian’ has been operating at Riga Airport since the end of 2005, and a permanent base of the airline was opened in Riga in April last year. Additionally, there is a ‘Norwegian’ office in the center of Riga.
The airline ‘Norwegian’ was founded in 1993 and offers flights to European destinations as well as domestic flights within Norway, according to information on the company’s website.
