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Tolmachevo Airport

Failed auctions for Ural Airlines and Koltsovo Airport

Lack of interest not unexpected (160 words)

Published: 8/31/2000

As expected the efforts to sell both Ural Airlines and Koltsovo Airport by the Russian State Property Fund have failed. The sale of a 13.3% in the airline failed to garner any interest after the failure to sell the stake in May of this year. The lack of interest is assumed to be due to the fact that the airline is controlled by a subsidiary , which to date, has been reluctant to bid and is assumed to be biding its time although it has expressed its reluctance to lose the state as a shareholder. The state in the form of the state property fund and the regional Sverdlov Property Fund also suffered a setback on the sale of 9.08% stake in Koltsovo Airport in Yekaterinburg, Russia's third busiest domestic airport, which failed to get any interest for the third time, the first attempt being made in December 1999.

Article ID: 2040

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