Vnukovo Airport Considers Buying Domodedovo

Vitaly Vantsev, chairman of the board of directors of Vnukovo Airport, and his partners are considering the possibility of purchasing Domodedovo Airport.

"Actually, I am ready. I know how to make it better," Vantsev said on Thursday when asked about the possible purchase of Domodedovo Airport, Interfax reported.

He and his partners are shareholders in Vnukovo Airport.

At the moment, Domodedovo is estimated at $3 billion, Vantsev said. Its previously estimated value of $4 to $5 billion is inflated, he said.

He also said mistakes were made when building Domodedovo. "I've seen their development plan, but it's wrong. It's a linear development, but stretching the terminal won't achieve anything."

Domodedovo could lose 5 million to 7 million passengers in the next two years, Vantsev said.

Vnukovo, for its part, is merging with Sheremetyevo Airport and the combined entity could eventually hold an initial public offering.

"The long-range plan is for an IPO, including the sale of state shares, but it will take at least five years," Vantsev said.

A year will be needed to merge the airports, and an IPO will make sense when combined passenger throughput reaches 60 million to 65 million, he said.

Vnukovo expects to handle 8.2 million to 8.3 million passengers in 2011.

Vantsev also said Vnukovo planned next year to certify itself to accept by 2013 the world's biggest airliner, the Airbus 380. In addition, he said Vnukovo was discussing cooperation with Singapore Airlines.

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