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Aeroflot and Sheremetyevo Airport’s destines tied up in single development strategy

Author: Alex Freedmann Section: Business News
Tags: Aeroflot
Aeroflot board of directors (BoD) has postponed the adoption of its development strategy so as harmonize it with the development plan for Sheremetyevo Airport. The decision was made by Russian Transportation Minister Igor Levitin, who also doubles as both corporations’ BoDs chairman, citing the necessity to link up the companies’ future development strategies. 

Sheremetyevo’s development strategy, which was adopted in 2008, envisages an increase in passenger traffic to 35mln by 2015, while the development plan for Aeroflot running up to 2025 envisages increasing the number of passenger freights to 79.5mln per year and revenue of $18bln.
It is necessary to note here that Sheremetyevo Airport is 100% owned by the state, which, with its 51% stake, is also the largest shareholder of Aeroflot. The airline’s biggest minority shareholder, with a stake of 9.7 %, is National Reserve Corp., which is affiliated with billionaire Alexander Lebedev.