01.08.2016 - Qatar Investment Authority takes stake in St Petersburg airport operator
Germany’s Fraport is selling a stake in the operator of the St Petersburg airport, which is ailing from low traveller numbers due to the weakness of the Russian rouble, to the Qatar Investment Authority (QIA). The deal, from which Fraport expects to generate a gain of €30 million (Dh123.1m) to €40m, will help to offset weakening revenues at hubs such as Frankfurt and Antalya and allow it to confirm its 2016 earnings forecast, the group said on Sunday. Attacks in Europe and a failed coup in Turkey have hit demand for travel, prompting easyJet, Lufthansa , Air France-KLM and IAG to warn on the impact of political upheaval and security concerns...............................................Full Article: Source
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