Qatar Airways has entered into an memorandum of understanding (MoU) with Moscow's Vnukovo International Airport, Russia’s third-largest hub, to acquire up to 25% of the airport’s total shares.
Qatar Airways group chief executive Akbar Al Baker said that the potential investment will complement the Middle East carrier's existing "strong ties" with Russia, which saw the launch of direct services to St. Petersburg late last year, as well as triple-daily flights to Moscow.
Vnukovo International Airport board chairman Vitaly Vantsev said: “Today we have signed the Memorandum of Understanding, the provisions of which, once implemented, could establish a foundation for productive partnership between Qatar Airways."
He added: "Vnukovo International nowadays boasts the best transport accessibility and most advanced, cutting-edge airport infrastructure in Russia, enabling the Airport's consistently impressive passenger growth performance nationwide.
"This gives me every confidence that our potential partnership will be mutually beneficial and good for all concerned, through further synergies it will be creating for each partner, enabling further growth.”
Qatar Airways' investment strategy has seen it take a 20% stake in International Airlines Group, a 10% stake in LATAM Airlines Group, a 9.94% stake in Cathay Pacific and 49% stake in Air Italy.
Read more cargo Airline news
