A consortium of Fraport, Russian state bank VTB and Greek Horizon Air Investments has been named preferred bidder for Russia's Pulkovo airport, Fraport said on Thursday. The consortium beat bids by aluminium tycoon Oleg Deripaska's Basic Element in partnership with Singapore's Changi airport and another group led by Flughafen Wien and Leader, a local investment house founded by Gazprom. Join discussion...

Billionaire Oleg Deripaska's Basic Element, Germany's Fraport and Flughafen Wien are among the companies bidding for a 40.2 billion ruble ($1.28 billion) contract to upgrade St. Petersburg's Pulkovo Airport. Fraport, the operator of Frankfurt Airport, is bidding with VTB Europe, the London-based investment unit of VTB Group, to overhaul and operate for 30 years Russia's largest airport outside Moscow, the municipal government said Thursday in announcing the three bidding groups. Join discussion...

With increasing construction costs aiport refurbishments are not affordable for governments. This is the reason why administrations decide to finance these improvements through concession contracts. Join discussion...