(Bloomberg) President Vladimir Putin ordered the transfer of all the rights to managing St. Petersburg’s Pulkovo airport from foreign shareholders that include Germany’s Fraport AG and the Qatari wealth fund by shifting their stakes into a new Russian entity.Most Read from BloombergTesla’s Cheapest Cybertruck Will Cost $60,990 and Be Available in 2025Banking Escapees Make Billions From Private Credit BoomThese Are the World's Most Expensive Cities to Live In Right NowSaudi Arabia Offers Iran
Germany-based Fraport AG saw a 2022 net profit increase of 81.5% year over year to 166.6 million euros ($176.7 million), surpassing the guidance it had set at the start of the year. WHY IT MATTERS: The increased profit is due to passenger traffic increase; cargo traffic decreased. Nevertheless, in response to the rebound in passenger