In a new research note, EDHECinfra shows that international sanctions have only destroyed a fraction of the value of Russia’s airport sector so far. As of March 2022, revenues lost to foreign airspace closures and the higher risk premia of Russian assets have reduced the value of private investments in Russian airports by less than 5% on average. This relatively low figure is in part due to the fact that most of the air traffic that makes up Russian airport revenues is domestic. However, the research also shows that these losses will quickly increase as internal traffic starts to decline

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