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…
Sheremetyevo vows to restore Domodedovo profitability after signing acquisition deal
Moscow Sheremetyevo airport’s operator is vowing to restore the Russian capital’s Domodedovo airport to profitability…
Gazprom Neft undertakes ground-based engine tests with sustinable fuel
Russian oil refining firm Gazprom Neft has undertaken rig testing for a product it claims…
Il-114-300 arrives at Yakutsk airport for extreme-weather testing
United Aircraft is conducting ground-testing of the Ilyushin Il-114-300 at Yakutsk airport to assess operational…
Birmingham offers financial incentive to tempt carriers into restoring US service
Birmingham airport’s operator is trying to encourage the launch of a nonstop transatlantic connection next…
Ryanair to set up in-house engine MRO facilities as it extends CFM partnership
Ryanair is to establish its own in-house engine repair facilities, and is assessing around five…
Eurofighter wins contract to certificate Typhoon’s aerodynamic modification kit
A long-planned package of aerodynamic enhancements developed for the Eurofighter Typhoon has edged closer to…
How Gripen E/F, GlobalEye orders propelled fast-growing Saab in 2025
Saab has reported a record set of quarterly financial results for the last three months…
Air Algerie increases firm commitment to A330-900
Algerian flag-carrier Air Algerie has ordered another Airbus A330-900, the airframer’s latest backlog figures reveal.…
LATAM 777-300ER pilot’s 100t calculation error preceded tail-strike at Milan
Italian investigators have determined that a LATAM Boeing 777-300ER crew introduced a 100t weight error…
Probe opens after SAS A320neo aborts take-off from short Brussels taxiway
Investigators are examining the circumstances of a serious incident at Brussels airport in which an…