Novaport consolidates 89% of Astrakhan airport

2012-01-09



The Novaport Holding has won an auction for a 51% stake in Astrakhan airport. The stake was bought at a starting price of RUB 217m (€5.2m). The company already owned 38% of the airport shares.
As Russian Construction Review reported on a previous occasion, one of the major projects scheduled at the airport is the construction of a new cargo terminal. The investors are Aeroport Astrakhan and Azerbaijan Airlines. The hub will take up 4 ha and will consist of a charging floor and unloading terminals.
The airport runway has already been extended from 2.5 km to 3.2 km to serve cargo aircraft. The amount invested could be €5m.
In addition to Astrakhan, Novaport operates airports in Novosibirsk, Chelyabinsk, Volgograd, Tomsk and Barnaul. In 2015 the company plans to sell its minority shareholding to a strategic investor or to carry out an IPO. In 2010, Novaport's revenues came to RUB 5.6bn (€140m), whereas the company expects RUB 4.8bn (€120m) for 2011. In addition, passenger traffic at the airports operated by Novaport came to almost 4.6 million people in 2010, with 4.8 million estimated for 2011.