Domodedovo Fire Sale

On Wednesday, the managing director of Moscow’s Domodedovo Airport was arrested for not doing enough to prevent the January 2011 terror attack on his airport. 37 people died and another 172 people were injured in the blast.

The airport is Moscow’s only fully private airport, according to the BBC. But for years, investigators insisted that Kamenshchik was just a front man for the mysterious beneficial owner.

Within days of the attack, President Dmitry Medvedev made statements that made it pretty clear that the authorities were eyeing the airport for an acquisition, and were looking to use the terror attack as an excuse.

Kamenshchik made light of fears of his arrest in 2011.

That may have been because at the time he was reportedly in talks about selling the airport to Alfa Group. But those talks apparently fell through.

Russia’s business daily Vedomosti writes:

“The arrest of the owner of Domodedovo on the eve of privatisation is a perfect example of how the state relates to business, ironically managing the investment fund. At auction on Wednesday the “Domodedovo” bonds at $300 million maturing in autumn 2018 fell by 4.4% to 94.8% of the nominal value.”

The Russian Regime is either looking for a cheap deal on the airport, or even to acquire it at no cost. How this will play out is unclear, but Kamenshchik would be well-advised to cut a deal now.

One thought on “Domodedovo Fire Sale

  1. Pingback: Domodedovo – Nina Jobe

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