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International Internet Magazine. Baltic States news & analytics Friday, 14.08.2020, 11:09

Lithuania's Avia Solutions Group exits Moscow’s Zhukovsky Airport

BC, Vilniaus, 26.10.2018.Print version
Avia Solutions Group (ASG), a Vilnius-based aviation business group controlled by Gediminas Ziemelis, has completely pulled out of the Moscow's Zhukovsky Airport, informs LETA/BNS.

The group said it had sold its 30% stake in Dutch-based United Airports Management B.V., representing 22.5% of shares in Ramport Aero, the airport's operator, to the latter company's management team. 


"At this stage of the investment project, we are selling our interest," Avia Solutions Group CEO Jonas Janukenas said, noting that "the project was not integrated with other activities of the group." 


Janukenas told after the group announced its intention to withdraw from the project in early September that the decision concerned only AGS' stake and its exit from the Russian airport.

The group did not comment on possible decisions by Ziemelis and other related shareholders holding a combined stake of around 75% in the airport. 


The airport, which cost 27 mln US dollars to build and focuses on low-cost flights, was officially opened in May 2016.  

 






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