Qatar Airways signs MoU to acquire 25% stake in Russia’s Vnukovo Airport

06 Apr 2018 12:40 PM | Anonymous

Original news was published 05 April, 2018

As a part of its existing expansion and investments strategy, Qatar Airways has entered into Memorandum of Understanding (MoU) with Moscow's Vnukovo International Airport to acquire up to 25 percent of the airport’s total shares.

The airline shares strong links with Russia, as it operates triple daily flights to Moscow and daily flights to St. Petersburg, launched in December 2017.

Akbar Al Baker, Group chief executive, Qatar Airways said: “As we celebrate the Year of Culture between Russia and the State of Qatar, I am very pleased to announce the potential acquisition of up to 25 per cent of Moscow's Vnukovo International Airport. Such an investment will complement the strong ties we have already established with the country, with our launch of direct services to St. Petersburg late last year, as well as our triple-daily flights to Moscow. All our investments are part of our existing expansion strategy, through which we aim to be able to bring even more people together from all parts of the globe.”

Vitaly Vantsev, chairman of the Board of Vnukovo International Airport said: “Vnukovo International nowadays boasts the best transport accessibility and most advanced, cutting-edge airport infrastructure in Russia, enabling the airport's consistently impressive passenger growth performance nationwide.”

This potential investment supports the airline’s investment strategy, which already includes 20 percent investment in International Airlines Group, 10 percent investment in LATAM Airlines Group, 9.94 per cent investment in Cathay Pacific and 49 percent investment in Air Italy.