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. Last Updated: 07/27/2016

Terminal-3 Seen Ready a Year Late

Sheremetyevo Airport's Terminal 3 will be delayed a year, and costs have run one-third over the original budget of $400 million, Aeroflot chief executive Valery Okulov said Tuesday, Interfax reported.

The terminal, which was originally supposed to be completed by the beginning of this year, will not be completed until the end of 2008, Okulov said on the sidelines of a meeting of the Russian Union of Industrialists and Entrepreneurs, the news agency reported.

Terminal 3, located next two Terminal 2, is to serve Aeroflot and its new partners in SkyTeam, the alliance it officially joined in April 2006. It is intended to be the flagship of the revamped airport, serving the flag carrier and its partner companies on both international and internal flights, with a capacity of 9 million passengers per year.

The Aeroflot subsidiary building the site, OJSC Terminal, has applied to VTB and the Development Bank for additional funding, Interfax said.

Okulov called the reasons for the delay "elementary." It took about 10 months to set up rights to the land, and the terminal's architecture was changed without approval from the relevant bodies, Okulov said, Interfax reported. This forced the project to take another half year on development.

He also said Aeroflot, Eastern Europe's largest airline, would be interested in a stake in Czech national carrier CSA if the government decided to sell, Bloomberg reported.