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John Murphy: “There is a real need for new facilities – from May to September it’s really stretched.” |
RUSSIA. One of the airport world’s longest-delayed projects, the building of a third terminal at Moscow Sheremetyevo Airport, is set to finally proceed.
The on-again, off-again project has been the subject of controversy since the early 1990s. Crowded Sheremetyevo has been badly overstretched in capacity terms, helping inadvertently to drive the spectacular success of rival Domodedovo in recent years. The latter will for the first time this year become Moscow’s busiest airport in passenger terms with around 13.3 million to Sheremetyevo’s 12 million.
However, relief appears to be in sight with the signing earlier this month of a Memorandum of Mutual Understanding regarding the “˜Sheremetyevo-3′ terminal project by Aeroflot, Vneshtorhbank, and OAO Terminal (a 100%-owned Aeroflot subsidiary). The Memorandum defined conditions of participation, decision-making procedures and the interaction of future shareholders, as well as the financing.
Shareholders will be as follows:
– Vneshtorgbank: 25% plus one share
– OAO Aeroflot – Russian International Airlines: 30%
– OAO Sheremetyevo International Airport
– Russian Federation Savings Bank
The terminal construction will be carried out by Turkish contractor Enka. Completion is scheduled by the end of 2007.
The news was welcomed, albeit cautiously, by John Murphy, General Manager of Aerofirst, the Aer Rianta International three-way partnership that runs Sheremetyevo’s leading travel retailer, Moscow Duty Free. He told The Moodie Report: “There is a real need for new facilities – from May to September it’s really stretched.”
Crowding, allied to significantly increased security, has eroded dwell time badly, he said – by as much as 40-50%.
Despite this – and the surprise government-driven closure of arrivals shopping in January – the retailer expects to generate sales of US$90 million this year, only marginally down on last year’s US$95 million. “If we have a good autumn and early winter we might get to US$95 million,” Murphy said.
MORE STORIES ON SHEREMETYEVO
Sheremetyevo to get new terminal in 2007 – 21/06/05
Sheremetyevo to evict smaller retailers for more upscale offer, say reports – 19/01/05
