Domodedovo International Airport, one of Russia’s largest aviation hubs, has been sold to a managing company affiliated with Sheremetyevo International Airport for approximately 66.1 billion rubles or $854 million, according to an announcement by the buyer on Monday, February 9. The sale comes eight months after a Russian court ordered the airport nationalized due to foreign ownership concerns.
Sheremetyevo International Airport announced it had acquired Domodedovo through its wholly owned subsidiary Perspektiva Limited Liability Company (LLC) in partnership with Bank PSB Public Joint Stock Company (PJSC). The transaction price was determined through an auction held on the Russian Trading System tender platform on January 29.
The airport was reportedly sold at a second attempt for approximately $854 million, less than half of the original asking price of 132.3 billion rubles or $1.6 billion set during the first auction held on January 20. That initial auction was declared invalid after the sole bidder, entrepreneur Evgeny Bogaty, was disqualified.
The development follows a June 17, 2025, ruling by the Moscow Region Arbitration Court ordering that Domodedovo, Russia’s fourth busiest airport, be nationalized and transferred to state ownership. The court determined that its previous owners, Dmitry Kamenshchik and Valery Kogan, were foreign residents and therefore not entitled to manage the strategic infrastructure asset without prior government approval.
Kamenshchik, a Russian born businessman who reportedly holds Turkish and United Arab Emirates passports, and Kogan, a Moscow born Israeli citizen, were identified as the ultimate beneficial owners of Domodedovo Managing Company Holding LLC. The Prosecutor General’s Office accused both men of transferring 18 billion rubles or $228 million of Domodedovo’s profits abroad between 2021 and 2023.
Sheremetyevo is majority owned by private firm TPS Avia Holding and the Russian government, which holds a 30 per cent stake, according to Russian business outlet RBC. TPS Avia Holding was redomiciled from Cyprus back to Russia in 2022. Russian media have previously identified Arkady Rotenberg, a close associate of President Vladimir Putin, as one of the firm’s shareholders.
The auction attracted five bids, but only two were admitted to participate. According to the tender minutes published on the State Information System Procurement website, Perspektiva LLC faced competition from Moscow International Airport Joint Stock Company (JSC), a management company affiliated with Vnukovo Airport. However, Vnukovo decided not to outbid Sheremetyevo after Perspektiva submitted its offer first, according to statements from Vnukovo’s press service to Russian news agency TASS.
Mikhail Vasilenko, chief executive officer of Sheremetyevo Airport, described Domodedovo as a very challenging facility with chronic problems, high risks, significant debt burden and losses. He told Russian media last week that Domodedovo needs investment and has 75 billion rubles of debt while currently operating at a loss.
The new owner assumes responsibility for servicing the debt burden, which market estimates place at over 70 billion rubles. According to reports, the debt includes 34 billion rubles in domestic liabilities and $450 million in foreign currency obligations. Interest payments alone are expected to exceed 8 billion rubles next year.
Andrei Ivanov, appointed to lead the airport’s management team following the nationalization, told RBC business outlet that the airport would not be allowed to face bankruptcy risk and expressed hope to attract a strategic investor in a timely manner. He attributed the debt crisis to a combination of falling revenues and persistent operational costs.
Russian Finance Minister Anton Siluanov stated that the acquisition of Domodedovo Airport will provide Sheremetyevo with a base for expansion. He noted that Sheremetyevo’s professional experience in managing air hubs and its commitment to further developing Domodedovo were mandatory requirements for the airport sale.
The Russian Transport Ministry confirmed it does not object to the winning bidder and stated that together with the Federal Air Transport Agency, known as Rosaviatsiya, it will support the new owner’s initiatives in the interests of passengers and carriers. The ministry expects the new owner to resolve Domodedovo’s infrastructure issues.
Vasilenko confirmed that Sheremetyevo used its own funds to acquire Domodedovo at auction without borrowing. He stated that following the change of ownership, Domodedovo staff will be provided with guarantees of stable operations and wages, as well as job security. He described the acquisition as a business project aimed at reviving an important part of the Moscow air hub.
The transaction consolidates control over Moscow’s two largest airports under a single corporate group. Sheremetyevo and Domodedovo have historically competed for base carriers, transit passengers, and international traffic. Strategic management of both airports will now be centralized within the same corporate structure, although legally the airports will retain separate corporate structures and current aerodrome certificates.
Among the infrastructure challenges facing the new owner is completing construction of the second runway, previously delayed due to actions by former owners who allegedly diverted significant funds abroad, including state subsidies. The Prosecutor General’s Office classified these operations as illegal, the transactions were annulled, and the assets returned to the state. Domodedovo continues to operate with a single runway.
Former Domodedovo beneficiary Kamenshchik filed an appeal with Russia’s Supreme Court in late January 2026 challenging the transfer of the airport to state ownership. According to Russian business daily Vedomosti, Kamenshchik disputed the position of the Prosecutor General’s Office, which accused him of conducting transactions that established foreign control over a strategic facility.
Since Russia launched its military operation in Ukraine in February 2022, billions of dollars worth of assets have been seized or nationalized by the state. These have included properties linked to Western companies such as French dairy group Danone and German energy firm Uniper.
Russian authorities have argued that such actions are lawful and intended to correct flawed privatizations that occurred during the economic transition following the collapse of the Soviet Union in the 1990s. Critics, however, contend that the nationalizations have undermined investor confidence and discouraged long term foreign investment in the country.
Domodedovo Airport, located 42 kilometers south southeast from central Moscow, was built between 1957 and 1963 and officially opened in May 1965. The airport received international status in 1992, and privatization began in 1996. By 1998, the airport’s property was leased for a 75 year term.
In 2005, Russia’s Federal Property Management Agency attempted to return the facility to state ownership, but the Supreme Arbitration Court upheld its private ownership under Cyprus based Hacienda Investments Limited. Efforts to seize the airport intensified after a terrorist attack on January 24, 2011, when a suicide bomber killed 37 people and injured more than 170 at the international arrivals area.
Despite the legal and financial turmoil, Domodedovo remains a key hub in Russia’s aviation network. The airport continues to operate domestic and international flights for carriers such as S7 Airlines, Ural Airlines and Red Wings, serving destinations across Russia, Central Asia and the Middle East. The facility saw over 15 million passengers in 2024.





