Airport, Lithuania, Russia, Transport
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Friday, 26.04.2024, 19:55
Lithuania's Ziemelis sells his stake in Moscow’s Zhukovsky Airport
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"Yes, I have sold," he confirmed to reporters on Tuesday. w
Ziemelis said his decision to exit the project was due to several factors, including pressure to reduce the volume of business in Russia.
"The Moscow airport was an investment project in which we combined our competencies. We developed a successful project that, to my knowledge, handled 1.25 mln passengers last year," the businessman said.
"Our exit decision was due to a set of factors," he added.
The airport, which cost 27 mln US dollars to build and focuses on low-cost flights, was officially opened in May 2016.
Avia Solutions Group, a Vilnius-based aviation business group controlled by Ziemelis, announced its exit from Moscow's Zhukovsky Airport last October, but it did not comment at that time on possible decisions by Ziemelis and other related private shareholders holding a combined stake of around 75% in the project.
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