Airport, Good for Business, Investments, Latvia, Markets and Companies, Transport

Entrepreneur, racing driver, vice president of Latvian automobile federation (LAF) and the new co-owner of the airport Raimonds Kisiels has been actively participating in the field of petroleum product transportation since 1993. RIX Jet Riga, of which Kisiels is a co-owner, currently serves at the international airport Riga as an operator of aviation refueling by providing one the most modern airship hydraulics systems in Scandinavia (it is the only such hydraulic system in the Baltic states). This year, his company TLL Jet Tallin started to provide refuelling services in the Tallinn airport. Kisiels also owns Kennard Aviation Limited - shareholder of the Tukums Airport.

Kisiels admits that investment in Tukums Airport is the next step in developing a business in the dynamic field of aviation. He mentions that the airport is already fully operational and has all the necessary infrastructure, personnel and security control.

The chairman of the Engure municipality council Gundars Važa declares that inhabitants of the nearby territories will benefit the most from the reopening of the airport. The airport will provide new job opportunities, considerably increase tax revenue, and provide an influx of tourists. More options will be available to the local industry and companies.

Kisiels says that he plans on buying an even bigger portion of shares in the near future, thus decreasing the amount of shares belonging to Wings 4 Sky Group. Influence of Wings 4 Sky Group has already been reduced, and this shareholder is represented in the board by only one person - Natālija Maršāne,” reveals Kisiels. He admits that Maršāne’s wide experience in the aviation sector means her remaining in the board is only logical. Furthermore, Kisiels informs that a sales agreement for 47% of shares has been signed. This means that together with the 4.25% of shares belonging to Engure municipality council Kisiels has majority in the company. Already now, the board members representing Kisiels has the majority in the board, and, according to the shareholder agreement, the new strategic investor has the majority in the new board.

The board members of the new board already represent the changes in shareholder structure, but the deal is progressing gradually, and all transactions will be registered in the Enterprise Register after gaining a full control of activities in airport.

The new chairman of the board Juris Rekšņa, who has worked in the state police for almost 30 years, stresses that one of the main priorities for the board is to renew the airport certificate. When it is renewed and regular flights are resumed, the airport will ensure permanent presence of customs and border control. Rekšņa hopes that the full functionality of the airport will be renewed by Latvia's 100th anniversary.

On October 10, 2016, the airport’s Environmental Impact Assessment was renewed. After the new owners presented the strategy, the Environment State Bureau concluded that the airport does not harm the environment and may resume operations.

On March 15, the new strategic investor Raimonds Kisiels and the members of the board will inform the media about the future plans and the development opportunities of the airport.

Thus far, there have been made considerable investments in the infrastructure of Tukums Airport. These investments are sufficient to resume its operations and begin attending airships. The company’s capital stock is 4.2 mln euros. The current shareholders are Engure municipality council (4.25%), Kennard Aviation Limited (20%) and Wings 4 Sky Group (75.75%).