newstodate.aero
Aug 06, 2014 (newstodate): The growing rift between Russia and the west following on the sustained implementation of harsh EU sanctions may post many-fold problems for the airfreight industry as well.
The latest series of sanctions will hit EU airlines' and companies' dealings with Moscow Sheremetyevo Airport's cargo facilities as the owner of the company controlling cargo operations has been included on the EU sanctions list.
In 2013, Arkady Rotenberg through his company TPS Avia acquired a controlling stake in a project to build a new air cargo terminal at Sheremetyevo, as well as 44 percent of the stake in the airport's existing cargo terminal, plus a 50 percent stake in Airport Moscow, the cargo and mail handling company at Sheremetyevo.
On the other hand, Mr Rotenberg will now also face problems of raising the funds to finance the acquisitions as western banks and financial institutions will also be prohibited from dealing with his companies.
The latest series of sanctions will hit EU airlines' and companies' dealings with Moscow Sheremetyevo Airport's cargo facilities as the owner of the company controlling cargo operations has been included on the EU sanctions list.
In 2013, Arkady Rotenberg through his company TPS Avia acquired a controlling stake in a project to build a new air cargo terminal at Sheremetyevo, as well as 44 percent of the stake in the airport's existing cargo terminal, plus a 50 percent stake in Airport Moscow, the cargo and mail handling company at Sheremetyevo.
On the other hand, Mr Rotenberg will now also face problems of raising the funds to finance the acquisitions as western banks and financial institutions will also be prohibited from dealing with his companies.