Changi, along with the Russian Direct Investment Fund (RDIF) and Basic Element, a Russian industrial group, won the tender to acquire shares in Vladivostok Airport, with each party holding an equal share in the consortium.
Vladivostok is considered strategically important for Russia, due to its geographical location on the fringes of the Asia Pacific region.
“With an Open Skies policy in place, this airport has the potential to become a key Russian hub within the Asia Pacific transportation and logistics network,” said Kirill Dmitriev, CEO of RDIF. “Over 400 million people live within two hours flight of Vladivostok. The transportation hub will promote economic development in the region at every level.”
In 2012, the airport underwent large-scale renovation, including the development of a new terminal.
Vladivostok is already served by several Asian carriers, including Korean Air, Asiana Airlines and China Southern Airlines, and Vietnamese low-cost carrier VietJet Air recently agreed to launch flights to the city.