Russia has announced plans to merge Vnukovo and Sheremetyevo Airports in Moscow with the aim of selling its stakes as part of the country’s privatisation programme.

The Russian Government holds a 100% stake in Sheremetyevo Airport and the Moscow government has a 75% stake in Vnukovo.

The timeframe has not been disclosed but the merger aims to raise tens of billions of rubles for the country’s privatisation programme. Through the programme, Russia intends to raise about US$7 billion in the next two years.

Sheremetyevo is Moscow’s second-largest airport, handling 15 to 25 million passengers a year. Vnukovo had a passenger flow of 9.5 million in 2010, but has plans to build a new terminal to increase this number.

TecHead