"Aeroflot and Alfa Group to jointly develop Moscow airport"

Wednesday, June 30, 2004

Russia industry/ Aeroflot and Alfa Group to jointly develop airport
United Kingdom - The Economist


After months of talks, the national flagship airline Aeroflot and
private financial industrial group Alfa Group have agreed jointly to
develop Moscow's Sheremetyevo international airport. 

In January 2003 Alfa Eko, a unit of Alfa Group, won the tender to
upgrade the run-down Sheremetyevo, beating Aeroflot. The airline, which
uses the airport as its main base, subsequently denounced the tender
result, and threatened to move its operation to a private airport
instead. 

Earlier in June, the government effectively annulled Alfa's sole right
to develop the airport, requiring it to join forces with Aeroflot.
Details of the agreement have not been disclosed but reportedly the two
parties are still in talks over how much each would own in the managing
company. 

The government plans to turn Sheremetyevo, Moscow's main international
airport which travellers complain is outdated and dingy, into a modern
hub linking Europe and Asia.


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