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Cobalt Advises AirBaltic on Construction of Baltic Cargo Hub

Cobalt Advises AirBaltic on Construction of Baltic Cargo Hub

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Cobalt has advised Latvian national carrier AirBaltic on its agreement with UPB Nams for the construction of the Baltic Cargo Hub at the Riga Airport, as well as on the related agreements with Riga Airport and design and construction agreements.

According to the firm, "this state-of-the-art facility is set to become the largest dedicated air cargo handling center in the Baltics, allowing the handling of up to 45,000 tons of cargo annually, solidifying Riga Airport’s position as a leading air cargo hub. The facility will feature direct access to the apron, making cargo import, export, and transit processes quick and easy."

Spanning an area of 6,895 square meters, the hub will dedicate approximately 5,000 square meters to cargo handling facilities and around 2,000 square meters to office spaces and focuses on sustainability, aiming for a BREEAM certification. Project development is estimated at 12 months.

"The new Baltic Cargo Hub will be equipped with cutting-edge, semi-automatic cargo handling equipment – Material Handling System, including a mail sorter. These advancements will significantly improve handling efficiency for both belly cargo and dedicated cargo freighter aircraft. The hub is designed to have full special cargo handling capabilities with dedicated temperature-controlled rooms for pharmaceuticals and perishables, and premises for dangerous goods, live animals, and valuable shipments," Cobalt reported.

AirBaltic operates more than 100 routes from Riga, Tallinn, Vilnius, and Tampere, offering connections to a wide range of destinations in the airline’s route network in Europe, the Middle East, North Africa, and the Caucasus region.

The Cobalt team was led by Managing Partner Dace Silava-Tomsone.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.