Domodedovo Airport, the fourth busiest airport in Russia, has recently been sold for around $850 million to a management company associated with Sheremetyevo, the largest airport in Russia. This sale follows a legal dispute surrounding the ownership of Domodedovo, which had initially been nationalized. The transaction raises alarms about the climate for long-term investments in Russia, highlighting the uncertainties investors face in a rapidly changing economic landscape.

The acquisition was confirmed through a press release by Sheremetyevo, indicating that it has secured the airport through its fully-owned subsidiary, Perspektiva LLC, along with support from PSB Bank PJSC. The sale was made in what is described as a second attempt after the initial asking price of $1.6 billion was significantly adjusted down to the final sale price of $850 million. This reflects market realities and investor sentiment towards financial ventures in Russia's complex economic situation following geopolitical tensions.

Sheremetyevo Airport is predominantly owned by the private company TPS Avia Holding, along with a 30% stake held by the Russian government. Notably, TPS Avia Holding relocated its operations from Cyprus back to Russia in 2022, signaling a trend among companies to consolidate their operations amid ongoing sanctions and economic pressures. This transaction illustrates a significant shift in the management of crucial infrastructure in Russia and raises questions about future developments in the aviation sector and broader economic implications for the country.