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The Opportunity
A nonstop international flight puts Richmond on the map for global business. It saves time for local companies, makes our region more attractive for new projects, and helps visitors get here more easily. Site selectors and executives tell us this matters when they choose where to invest.
Why Airlines Need Help At The Start
New long flights are risky. Airlines must pay for a plane, crew, fuel, and marketing before they know if the route will work. Most new routes lose money at first. That’s why many cities offer short-term help to reduce risk until the flight “catches on.” The typical cost to operate a route from the U.S. East Coast to Europe exceeds $50 million per year.
Minimum Revenue Guarantee
What it is: A temporary safety net. If the new flight doesn’t earn the expected revenue during the launch period, investors cover part of the shortfall—up to a cap. If the flight meets or beats the target, no money is paid. This will be required to have a shot at a nonstop, European flight.
Support Greater Richmond’s international air service development efforts by filling out the pledge form.
Make a Pledge
Who Makes it happen:
Winning cities build a team
- State governments: commerce or special air-service funds
- Local & regional groups: local governments, economic development, tourism, chambers
- Private sector: major employers, universities, hospitals, hospitality
- Airports for route development, fee waivers & marketing
What This Means for Greater Richmond
We are a strong, growing region with companies and travelers who already go overseas—just not from RIC. A nonstop to a major hub (like London or another gateway) would boost our business climate, help us win more projects, and raise Richmond’s profile.
Benefits
Enhanced Connectivity
- Eliminates layovers & reduces overall travel time.
- Benefits business travelers by allowing them to maximize productivity and reduce the risk of missed connections or the cost of commuting to Dulles (IAD).
- Makes leisure travel more accessible and appealing, fostering the attractiveness of the region overall as a place to live and work.
Economic & Foreign Direct Investment
- Easier access to key markets encourages foreign direct investment as companies can conduct meetings, negotiate deals, and oversee operations with greater convenience.
- Attracting FDI brings capital, expertise, and global market access to local businesses, as well as creates jobs and generates revenue that sustains and grows local economies
Boost to Tourism & Demand for Regional Events
- Attracts a higher volume of tourists, which in turn stimulates local tourism industries.
- Increased influx of tourists supports hospitality businesses, creates jobs, and generates revenue that sustains and grows local economies.
- Adds to demand and potential attendance for special events and conferences.
Market Demand Analysis
Significant Opportunity To Capture Flight “Leakage” To Other Airports
- The Richmond region to Transatlantic destinations air market exceeds 700 passengers daily each way (PDEW).
- In the RIC transatlantic market, 75% of passengers use other airports, primarily Dulles (IAD), as their originating or arriving airport.
- The hubs of airlines with the most service to U.S. medium-sized airports, Dublin (DUB), Iceland (KEF), and London (LHR+) operate convenient connecting options to the largest RIC-Europe markets and serve airports with Richmond market sizes exceeding 420 PDEW.
- Comparable U.S. mid-sized markets with one nonstop service to Europe obtain a share of 13% on average of the transatlantic.
- The required share of the RIC-Transatlantic market to support a European flight ranges from 12% to 14.5%, depending on the airline (135-175 per departure).
Business Demand Exists For European Flights – London Has The Most Demand
- Richmond headquartered firms have nearly 300 locations across Europe, 127 in the United Kingdom alone.
- 105 European headquartered parent companies have operations in the Richmond MSA.
- A Richmond Region business survey conducted in 2025 indicated London, Paris, Frankfurt, and Rome are top business destinations with 59% of all trips being transatlantic.
Success Stories
Many mid-size regions have used short-term MRGs to land their first nonstop flight to Europe or other international hubs. Once the flight proves itself, it stands on its own and often leads to more routes
The Richmond Region Is Ready
- Including leakage, RIC is the largest transatlantic market without nonstop service.
- RIC is in the top third of 200 US airports when ranked by number of passengers.
Richmond Perception Study
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Airport Survey Results
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Taskforce Members
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