The Frankfurt airport operator Fraport is suspending its activities at Pulkovo Airport in St. Petersburg because of the attack on Ukraine.

In the second largest city in Russia, consulting services are no longer provided and operational know-how is not transferred. There are no local staff and they are not involved in the operation of the airport. Fraport AG has been a minority shareholder in the airport operator Northern Capital Gateway via a holding company in Cyprus since 2009 and has been involved in the expansion of Russia's fourth largest airport in recent years. A second terminal was opened in 2013. Other owners are the Russian VTB Bank and the Greek Copelouzos Group.

The 25 percent stake is seen as an asset, Fraport said. Of course, everything will be done to get this asset back, so as not to give it to the Russian state. However, a sale is contractually excluded until the airport concession expires in 2040. It is about claims in the low three-digit million range. When it got involved, Fraport had put its own investment at around 170 million euros.

“There is no justification for the attack by Russian forces on Ukraine. We condemn this war for what it is: an armed attack on a sovereign state and its people, a clear breach of international law that is bringing unspeakable suffering to the people of Ukraine," explains the CEO of Fraport AG, Stefan Schulte.