Sheremetyevo acquires Domodedovo without borrowing funds - CEO

MOSCOW. Jan 30 (Interfax) - Sheremetyevo Airport acquired the group of companies managing Domodedovo using its own funds, without borrowing, the general director of JSC International Airport Sheremetyevo (IAS) Mikhail Vasilenko said.

"We used our own monetary funds for the acquisition of Domodedovo Airport, without attracting borrowed money," Vasilenko was quoted as saying by the airport.

For Sheremetyevo, this is a business project aimed "at improving the health of an important part of the Moscow aviation hub," he said, noting that "it is important to understand the burden this asset carries." "Domodedovo is an extremely complex asset with chronic problems, high risks, a significant debt burden and losses," Vasilenko said.

Domodedovo employees will be provided with guarantees of "stable operations and wage payments, social protection and job retention," he said.

The winner of the privatization tender for the sale of the Domodedovo group of companies, held earlier on Thursday, was an IAS structure - Perspektiva LLC, which offered 66.13 billion rubles for the asset. The bidding took place in the format of a Dutch auction - with a decrease from the starting price (132.3 billion rubles) down to 50%, with a reduction step of 10%. It was reported that besides Sheremetyevo, another airport of the capital's aviation hub, Vnukovo, planned to participate in the bidding.