Moscow Sheremetyevo airport’s operator is vowing to restore the Russian capital’s Domodedovo airport to profitability after signing an acquisition agreement for the hub.
Domodedovo was auctioned on 29 January after being taken over by the Russian government.
Sheremetyevo’s operator – represented by subsidiary Perspektiva and in collaboration with bank PSB – is acquiring the rival airport for RB66.1 billion ($854 million) after a successful bid.
The operator says it aims to develop a programme for “rehabilitation” of Domodedovo, and submit it to regulators.
Domodedovo’s passenger numbers stood at just 13.8 million last year, less than half the level it was accommodating at its peak.
Sheremetyevo chief Mikhail Vasilenko says Domodedovo is a “disparate asset” made up of 25 companies and turning in losses of around Rb10 billion per year – and labouring under a “significant” debt burden of Rb75 billion.
“This is a core business project aimed at creating new opportunities for passengers and airlines,” he says. “We face challenging work across various areas of our operations.”
He states that the intention is to optimise the enterprise structure, improve service quality, and achieve profitability.
Source link
Moscow Sheremetyevo airport’s operator is vowing to restore the Russian capital’s Domodedovo airport to profitability after signing an acquisition agreement for the hub.
Domodedovo was auctioned on 29 January after being taken over by the Russian government.
Sheremetyevo’s operator – represented by subsidiary Perspektiva and in collaboration with bank PSB – is acquiring the rival airport for RB66.1 billion ($854 million) after a successful bid.
The operator says it aims to develop a programme for “rehabilitation” of Domodedovo, and submit it to regulators.
Domodedovo’s passenger numbers stood at just 13.8 million last year, less than half the level it was accommodating at its peak.
Sheremetyevo chief Mikhail Vasilenko says Domodedovo is a “disparate asset” made up of 25 companies and turning in losses of around Rb10 billion per year – and labouring under a “significant” debt burden of Rb75 billion.
“This is a core business project aimed at creating new opportunities for passengers and airlines,” he says. “We face challenging work across various areas of our operations.”
He states that the intention is to optimise the enterprise structure, improve service quality, and achieve profitability.
Source link
Share This:
skylinesmecher
Plan the perfect NYC Memorial Day weekend
Pack only what you need and avoid overpacking to streamline the check-in and security screening…
LA’s worst traffic areas and how to avoid them
Consider using alternative routes, such as Sepulveda Boulevard, which runs parallel to the 405 in…
Middle East flight cancellations surge as Israel-Iran conflict closes airspace
Flight cancellations to and from the Middle East continue to climb, as airspace and airport…
Rolls-Royce teases UltraFan 30 features as demonstrator heads for design freeze
Rolls-Royce has shown off a full-scale mock-up of its proposed UltraFan 30 engine aimed at…
Rolls-Royce remains unconvinced that open-rotor benefit outweighs integration risk
Rolls-Royce has emphasised its scepticism over the open-rotor concept, as it unveils its ducted UltraFan…
NATO next-generation rotorcraft project closes on final requirements as Boeing re-emerges as possible bidder
A project involving six NATO members aiming to develop a next-generation military helicopter has agreed…
UK Royal Air Force advances crew training capability as delayed Boeing E-7A Wedgetail nears service entry
The UK Royal Air Force (RAF) has edged closer to reinstating its lapsed airborne early…
Croatia Airlines pressured by weak revenue growth and continuing fleet-renewal costs
Croatia Airlines’ full-year losses have doubled, a situation which the carrier attributes to weak revenue…
London City consults on shallower glideslope to enable A320neo operations
London City airport is seeking to implement a shallower glideslope of 4.49° – compared with…
GTF shop visits continue to drive commercial maintenance revenues at MTU
MTU Aero Engines is expecting continuing strong demand for powerplant maintenance, with the persisting Pratt…
Draken boosts UK ‘Red Air’ service delivery with L-159E after completing first depot-level inspection
Adversary training specialist Draken has completed a first depot-level inspection on one of the Aero…
Rolls-Royce lifts Trent engine durability-improvement target
Rolls-Royce has hiked the durability improvement target for its Trent engine time-on-wing programme, raising the…