Fraport to rethink Russian airport involvement if used against Ukraine

Stefan Schulte, Chairman of the Management Board of Fraport AG, speaks during a groundbreaking ceremony for Frankfurt Airport’s new Terminal 3 in Frankfurt, Germany April 29, 2019. REUTERS/ Ralph Orlowski

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FRANKFURT, May 9 (Reuters) – German airport operator Fraport (FRAG.DE) said on Monday it would reconsider its stake in St Petersburg Pulkovo if the airport came under Western sanctions or there were evidence that it was used by Russia to wage war on Ukraine.

Fraport said it was bound by a contract that did not allow it to sell the stake until 2025, and that it did not want to dispose of the asset worth 160 million euros ($168.11 million). dollars) to Russia. Read more

“But if there is evidence that Pulkovo is being used for the war in Ukraine, we will have a new situation. This could also apply in the event of new sanctions,” said Michael Boddenberg, Fraport chairman and finance minister. of the German state of Hesse.

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“We are therefore assessing the situation on a day-to-day basis,” Boddenberg said in a statement after an extraordinary supervisory board meeting he called on Fraport’s assets in Russia.

There are still no indications of Russian military flights from Pulkovo, Fraport chief executive Stefan Schulte said in the same statement.

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Reporting by Zuzanna Szymanska; edited by Joseph Nasr

Our standards: The Thomson Reuters Trust Principles.

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