Baku-Riga-Baku Flight Opened
Azerbaijan Airlines (AZAL) and Latvian airBaltic will begin operating joint flights on Baku-Riga-Baku route from May 29, 2016.
According to the code-share agreement, airBaltic flights on this air line will be operated under the codes of both airlines.
Direct flights from Riga to Baku will be operated every week on Wednesdays and Sundays. Return flights from Baku to Riga will depart on Mondays and Thursdays.
Departure from Heydar Aliyev International Airport - at 07:05 in the morning (Baku time), arrival at Riga International Airport - at 09:15 local time. Departure from Riga - at 23:55 local time, arrival in Baku - at 05:50 in the morning (Baku time).
Air ticket price of Baku-Riga-Baku flight starts from 314 euro.
Latvia’s capital Riga is the largest city in the Baltic States and a major tourist center of the country. Old Town, Lido entertainment center and other interesting sights of Riga attracts thousands of tourists from different countries each year.
Flights to Riga will be operated with comfortable Boeing-737 airliners, which have economy and business class cabins. –08D---
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- Economics
- 20 February 2016 18:57
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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