RUSSIAN AIRPORTS FACE POTENTIAL HUGE COMPENSATION DEMANDS FROM LOCAL LANDOWNERS
July 1st, 2017
Russian airports may have to pay tens of billions of roubles in compensation to local landowners, if proposed amendments to the Russian Air Code by the national parliament (the Duma) are approved. They would allow owners of plots within 30km of airports to demand payments over air safety-related restrictions on building high-rise buildings. A spokesperson for Moscow’ Sheremetyevo Airport warned payments worth 1% of the cost of residential buildings within 10 km of the airport would spark annual operating losses of Russian roubles RUB6 billion (USD100 million), ...
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