Qatar Airways is set to buy a 25 percent share in Russia’s Vnukovo International Airport, one of the four major airports which serves the capital, Moscow.
Akbar al-Baker, the national carrier’s chief executive, made the announcement on Monday, according to a report by Russia’s news agency Interfax.
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A spokesperson for Qatar Airways told Reuters news agency on Monday that a memorandum of understanding to buy the minority stake had been signed, with the deal expected to be finalised in eight weeks.
The Vnukovo Airport, which is located southwest of Moscow, is the third-busiest airport in the country by passenger traffic.
Earlier this month, al-Baker said Qatar Airways will report a “very large loss” in the current fiscal year because of a regional political dispute that has slapped restrictions on the airline.
Qatar’s national carrier lost access to 18 cities in Saudi Arabia, the United Arab Emirates (UAE), Egypt, and Bahrain when those countries imposed a blockade on the country last June, accusing Qatar of supporting “terrorism”. Qatar denies the charges.
In other developments on Monday, Qatar’s emir met Russian President Vladimir Putin in Moscow.
On the sidelines of Sheikh Tamim’s visit, Qatar Airways also sealed a five-year partnership with Cosmoscow, Russia’s only international contemporary art fair.
Qatar, the Gulf’s melting pot of art and culture, strengthens its ties with Russia by signing a five-year partnership with @cosmoscow, Russia's only International Contemporary Art Fair. https://t.co/1l1PA9tU5K #QatarRussia2018 pic.twitter.com/MTfTNy39PH
— Qatar Airways (@qatarairways) March 26, 2018