Categories: World

Fraport: Cannot sell stake in St. Petersburg airport before 2025

Fraport: Cannot sell stake in St. Petersburg airport before 2025

The German airport service company Fraport can not sell its stake in St. Petersburg airport before 2025, and even then, such a sale will be subject to conditions and will not necessarily help Ukraine, said its CEO. Fraport.

“Our concession is linked to a sales ban until 2025,” Stefan Schulte told a news conference, adding that the sale of the stake would not help end the war, as it would give the Russian state a three-digit asset worth million Euros, amount.

At the same time, the German group can not influence flights leaving the city, Schulte said in response to questions about concerns that military planes could take off from the civilian airport.

“We only have 25% of the airport management, so we do not participate in the airport operations ourselves. But we also have no way of influencing take-off and landing rights,” Schulte said.

Fraport also no longer operates in St. Petersburg, Russia, and has no staff at the site, after announcing in early March that it would suspend all operations in Russia.

Source: Capital