Russian Transport Ministry studying Vantsev's proposals to invest in Domodedovo, decision up to authorities - minister
TIANJIN. Sept 1 (Interfax) - The Russian Transport Ministry is studying proposals from the co-owner of Vnukovo Airport, Vitaly Vantsev, to invest in Domodedovo Airport, and the final decision is up to the country's leadership, Transport Minister Andrei Nikitin said.
"Mr. Vantsev's statement, the proposals that exist, they really do exist - what has been publicly announced. And my colleagues and I are studying them. But the final decision will be made by the [country's] leadership," Nikitin told journalists on the sidelines of the Shanghai Cooperation Organization (SCO) summit.
"This is one of the largest Russian airports. Today, of course, it is behind Sheremetyevo and Vnukovo in terms of passenger traffic. We would like it to operate at full capacity. And based on this task, we will then consider some configurations and propose them to the leadership," he said.
In late July, Vantsev told RBK in an interview that he was willing to invest in Domodedovo Airport, which had been transferred to state ownership not long before. "We have some good experience. We are therefore prepared to take on Domodedovo," he said, adding that the asset may be purchased using borrowed funds. He said that Domodedovo's financial problems should be solved by a strategic investor rather than the state. "The last thing the state needs is to be spending billions paying off debts left behind by the previous private investor," Vantsev said.
Domodedovo's new managing director, Andrei Ivanov, told RBK previously that the airport had debts totaling 70 billion rubles and would have to pay 8 billion rubles in interest at the end of the year. Its financial results for the past two years have been falling along with its passenger traffic, with revenue decreasing from 34 billion rubles to 31 billion rubles in 2024 as well as a loss of 7.2 billion rubles.
Vantsev also said in his interview that the beneficiaries of Moscow's Sheremetyevo, Vnukovo and Domodedovo airports had met 12 years previously during the aviation industry crisis to discuss the establishment of a single management company for the city's air hub, but were unable to reach an agreement because Domodedovo beneficiary Dmitry Kamenschik "had other ideas about the development of the business". Vantsev said that this conversation could be resumed after the state appoints a new owner for Domodedovo.
It was reported in August, quoting the Unified State Register of Legal Entities, that JSC Vnukovo International Airport had set up a new company, Moscow International Airport. The new company will primarily be occupied with running the airport business. It CEO is Elena Shestakova, who published data show has no prior management experience in the airport sector. Vnukovo's press service did not comment on the matter.
The Moscow Region Arbitration Court on June 17 granted a request by the Prosecutor General's Office to transfer 100% of DME Holding LLC to state ownership. The lawsuit claimed that the airport's beneficiaries, Dmitry Kamenschik and Valery Kogan, being residents of other countries, controlled, in violation of Russian law, the assets of an enterprise of strategic importance to Russia and funneled its profits abroad.
On June 19, the Domodedovo Group companies passed to the ownership of the Federal Property Management Agency. Airport Management Company Limited (AMCL) became the airport's holding company. This company was headed by Andrei Ivanov, who previously held the posts of Russia's deputy finance minister and first deputy economic development minister. Ivanov subsequently moved to the business sphere, heading Vnukovo Asset Management LLC from December 2023 to the end of 2024, according to open-source data.
According to financial statements, at the end of 2024, the largest shareholders of Vnukovo International Airport JSC were MAV Holding LLC (60.7%), Russian Federal Property Management Agency (Rosimushchestvo) - 25.01%, and Yunoks Company JSC (11.44%).
