Qatar Airways in talks to acquire Vnukovo International stake

Qatar Airways in talks to acquire Vnukovo International stake

Qatar Airways has signed a memorandum of understanding with Moscow’s Vnukovo International, Russia’s third-largest airport, to potentially acquire up to 25 per cent its total shares.

The signing ceremony took earlier at the Oryx Rotana Hotel in Doha.

Qatar Airways Group chief executive, Akbar Al Baker, signed the deal along with chairman of the board of Vnukovo International Airport, Vitaly Vantsev.

Al Baker said: “As we celebrate the Year of Culture between Russia and the state of Qatar, I am very pleased to announce the potential acquisition of up to 25 per cent of Moscow’s Vnukovo International Airport.

“Such an investment will complement the strong ties we have already established with the country, with our launch of direct services to St. Petersburg late last year, as well as our triple-daily flights to Moscow.

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“All our investments are part of our existing expansion strategy, through which we aim to be able to bring even more people together from all parts of the globe.”

This potential investment supports the airline’s investment strategy, which already includes 20 per cent investment in International Airlines Group, ten per cent investment in LATAM Airlines Group, 9.94 per cent investment in Cathay Pacific and 49 per cent investment in Air Italy.

Vantsev added: “Today we have signed the memorandum of understanding, the provisions of which, once implemented, could establish a foundation for productive partnership between Qatar Airways, one of the world’s leading air carriers and a true, recognised touchstone of sterling quality of passenger and in-flight services, and Moscow’s Vnukovo Airport.

“Vnukovo International nowadays boasts the best transport accessibility and most advanced, cutting-edge airport infrastructure in Russia, enabling the airport’s consistently impressive passenger growth performance nationwide.

“This gives me every confidence that our potential partnership will be mutually beneficial and good for all concerned, through further synergies it will be creating for each partner, enabling further growth.”