Qatar Airways will buy a 25% stake in Russia’s Vnukovo airport, says Al Baker

Qatar Airways will buy a 25% stake in Russia’s Vnukovo airport, says Al Baker

QLNews
By QLNews

In another major move, Qatar Airways is set to buy a 25% share in Russia’s Vnukovo International Airport, one of the four major airports which serves the capital Moscow, reported Al Jazeera.

Akbar Al Baker, the national carrier’s chief executive, made the announcement on Monday, according to a report by Russia’s news agency Interfax.

The deal — the financial details of which were not yet disclosed — comes as Qatar’s HH The Emir Sheikh Tamim bin Hamad Al Thani is on a short work visit to Moscow.

A Qatar Airways spokeswoman said the airline had signed a memorandum of understanding to buy the minority stake and that it now had eight weeks to finalize the transaction, according to Reuters.

The airport is co-owned by the Russian state, which has a blocking stake, and Russian businessman Vitaly Vantsev and his partners.

Qatar’s sovereign wealth fund, the Qatar Investment Authority, owns a 20% stake in London’s Heathrow airport.

The Vnukovo Airport, which is located southwest of Moscow, is the third-busiest airport in the country by passenger traffic.

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