Vnukovo chairman, partners considering purchasing Domodedovo
MOSCOW. Dec 22 (Interfax) - Chairman of the board of directors of Vnukovo Airport Vitaly Vantsev and partners are considering the possibility of purchasing Domodedovo Airport.
"Actually, I am ready. I know how to make it better," Vantsev told journalists on Thursday when asked about the possible purchase of Domodedovo Airport.
He and his partners are shareholders in Vnukovo Airport.
At the moment, Domodedovo is estimated at $3 billion, Vantsev said. Its previously estimated value of $4-$5 billion is inflated, he said.
He also said mistakes were made when building Domodedovo. "I've seen their development plan, but it's wrong. It's a linear development, but stretching the terminal won't achieve anything."
Domodedovo could lose 5 million-7 million passengers in the next two years, he said.
Vnukovo, for its part, is combining with Moscow's Sheremetyevo Airport and the merged entity could hold an IPO in time.
"The long-range plan is an IPO, including the sale of state shares, but it will be at least five years," Vantsev said.
It will take a year to merge the airports, and an IPO will make sense when passenger throughput reaches 60 million-65 million, he said.
Vnukovo expects to handle 8.2 million-8.3 million passengers in 2011.
Vantsev also said Vnukovo planned next year to certify itself to accept the world's biggest airliner, the Airbus 380, in 2013. Domodedovo is currently Russia's only airport able to service the plane.
In addition, he said Vnukovo was discussing cooperation with Singapore Airlines.