Sheremetyevo signs agreement to purchase Domodedovo

MOSCOW. Feb 9 (Interfax) - Sheremetyevo International Airport has signed an agreement for the sale of Domodedovo Airport through its 100% subsidiary Perspektiva LLC and PJSC PSB Bank, the airport's press service said.

On behalf of Perspektiva LLC, the agreement was signed by the company's general director, Alexander Ilyin, in the presence of the head of Sheremtyevo International Airport, Mikhail Vasilenko.

"We face difficult work in various areas of activity. Today, Domodedovo is a fragmented asset consisting of 25 companies that incur losses of around 10 billion rubles annually and have a significant debt burden of 75 billion rubles," Vasilenko was quoted as saying by the press service.

"Our task is to formulate a recovery program for Domodedovo Airport and present it to the controlling state authorities within the established deadlines. The future program depends on the dynamics of passenger traffic formation in Russia and the Moscow aviation hub," he said.