Russia has completed the sale of Domodedovo Airport, one of Moscow’s key aviation hubs, months after the facility was taken over by the state following a court-ordered nationalisation.
The airport, ranked as Russia’s fourth-busiest, has now been transferred to a management structure linked to Sheremetyevo International Airport, the country’s largest and busiest aviation gateway. The buyer confirmed the transaction on Monday.
From Nationalisation to Re-Privatisation
In June, a Russian court ruled that Domodedovo should be seized and placed under state control, citing violations of national ownership rules. The court found that the airport’s former owners — Dmitry Kamenshchik and Valery Kogan — were classified as foreign residents and therefore ineligible to operate a strategic infrastructure asset.
Following the ruling, the airport was put up for sale under a new structure. According to official disclosures, the deal was executed through Perspektiva LLC, a wholly owned subsidiary of Sheremetyevo, in partnership with Bank PSB PJSC.
The sale reportedly closed at around $850 million, significantly below the initial $1.6 billion valuation, after a first attempt to sell the asset failed to attract a buyer.
Ownership Structure and Political Undercurrents
Sheremetyevo itself is jointly owned by the Russian state and private investors. The government holds a 30 per cent stake, while the majority is controlled by TPS Avia Holding, a private aviation group.
Russian business outlet RBC reports that TPS Avia Holding relocated its registration from Cyprus back to Russia in 2022, with media reports linking businessman Arkady Rotenberg, a long-time associate of President Vladimir Putin, to the company’s shareholder structure.
👉 Source: RBC via Reuters – https://www.reuters.com
Part of a Broader Asset Seizure Trend
The Domodedovo sale comes amid a wider wave of asset nationalisations that has accelerated since Russia launched its full-scale military operation in Ukraine in 2022. Over the past two years, the Russian state has taken control of billions of dollars’ worth of assets, including businesses previously owned by Western firms.
Notable cases include the seizure of assets linked to French food giant Danone and German energy company Uniper.
The Kremlin maintains that the actions are aimed at correcting flawed privatisation deals from the post-Soviet 1990s, arguing that strategic assets were improperly transferred during that period. Critics, however, warn that the policy is undermining investor confidence and could discourage long-term foreign and domestic investment.
What It Means for Russia’s Aviation Sector
Analysts say the Domodedovo transaction underscores the consolidation of critical infrastructure under entities closely aligned with the state, even as Moscow seeks to project stability in key economic sectors.
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