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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 07:41

Lithuania's Avia Solutions Group set to exit Russia's Ramport Aero

BC, Vilniaus, 10.09.2018.Print version
Avia Solutions Group (ASG), an aviation business group controlled by Gediminas Ziemelis, is planning to withdraw from the Zhukovsky Airport project and is seeking a buyer for its stake in Ramport Aero, the operator of Moscow's fourth international airport, informs LETA/BNS.

"The group has made the decision to pull out. We hold 22.5% (of shares) and are in talks with potential buyers," Jonas Janukenas, CEO of ASG, said.


"There are several reasons. We are focusing on Asia," he said. 


Zhukovsky Airport last year saw its net loss grow to 523 mln rubles (7.1 mln euros), up 16.2% compared with 2016. Revenue came in at 234.5 mln rubles (2.9 mln euros), up from 35.2 mln rubles (0.44 mln euros) the previous year.


The airport last year handled 425,500 passengers in 2017, up from 53,000 in 2016. Ramport Aero expected the 2017 annual passenger number to reach 1.7 mln. 


The airport, which cost 27 mln US dollars and focuses on low-cost flights, was officially opened in May 2016 and welcomed its first commercial flight some four months later.  

 






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