Sochi International Airport

active

In November 2006, Russian government sold its 100% stake in the Sochi International Airport in an open auction to the Russian company Strategiya Yug, an affiliate of the Bazovyt Element Holding. Strategiya Yug paid the Russian government approximately $144 million (5.5 billion rubles) to take over the Sochi Airport. The transaction was the largest privatization deal in 2006 conducted by the Russian Federal Property Fund. The other companies which bid in the auction were the Aviation Oil Company (3.5 billion rubles) and Meridiany (4.253 billion rubles). The minimum bid was set as 50 million rubles. Sochi International Airport was located in Adler District of the city Sochi on the Black Sea coast in Krasnodar Krai, Russia. It was the 7th biggest airport among the other Russian major airports. In 2005, Sochi Airport's passenger traffic reached 2.35 million people, including international and national ones. None IMF International Financial Statistics was used for the convertion of ruble/dollar rate.