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Basic Element to acquire five airports in Russia
7.02.2012 16:57
Basic Element to acquire five airports in Russia

The joint enterprise of Basic Element owned by Oleg Deripaska, Sberbank of Russia and Changi Airports Group, the operator of Singapore airport Changi, have started negotiations on acquiring five Russian airports, reports The Vedomosti, referring to the Deputy General Director of Basic Element Andrei Elinson.

The enterprise would like to operate the airports of Kaliningrad, Ufa, Perm, Krasnoyarsk and Irkutsk. These five airports manage about 11% of all Russia’s passenger flow.

A source in the joint venture told Vedomosti five airports may cost about $2 billion. Changi plans to invest nearly $200 million in the venture, while Sberbank will invest $120 million but plans to sell its stake in the future.

Mr. Elison noted, the present Russian passenger flow structure is not effective, as mostly it is concentrated in Moscow. He considers developing regional airports to change the situation.

Author: Irina Fomina

Tags: Russian airports     

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