Moscow Sheremetyevo restructures and seeks private operator

Print Article E-Mail Article

The board of directors of Sheremetyevo joint stock company, which controls Moscow Sheremetyevo airport, this week finalised the structure of a new company to build its terminal 3 opening in 2005

Russian airline Aeroflot, the airport's international carrier, will be a joint shareholder, Sheremetyevo deputy commercial director Dmitry Pronyushkin told news agencies.

The parties also announced that a new tender will be launched at the end of July to appoint an operator for terminal 3 by the end of the year. The private airport operator will also manage the existing Sheremetyevo terminal 2, which houses the Moscow Duty Free joint venture.

To build terminal 3 and refurbish terminal 2, the Airport Complex Sheremetyevo Aeroflot joint venture has been created, with a charter capital of not less than $10m. Sheremetyevo will receive 50% plus one share, Aeroflot 25% plus one share and the private operator 25% minus two shares.

The new terminal plan announced in March (TRW 17/03/02) will have 15,000sq m (161,400sq ft) of commercial space.