Monday, 4 April 2022

Fraport will continue to hold a quarter stake in St Petersburg Airport until 2025 at the earliest.

Fraport will continue to hold a quarter stake in
 St Petersburg Airport until 2025 at the earliest.

 


The boss of the German Airport operator Fraport has confirmed his company will not sell its quarter stake in the Russian airport operators of St Petersburg for at least three years and maybe longer. 

Stefan Schulte confirmed the details in a news conference held today,  he said the firm's concession is linked to a sales ban until 2025 and any sale wouldn’t benefit Ukraine.  It is doubtful if Fraport will even divest itself of the stake in the airport in 2025, currently thinking at the German firm according to local sources, is that the war in Ukraine will be over by then and the public’s attention will be drawn elsewhere.  

"We only hold a 25% stake in the airport operator, so we are not involved in airport operations ourselves. But we also have no way of influencing take-off and landing rights," Schulte said at the conference and the firm has previously stated it has stopped all business activities in Russia.







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