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Dmitry Kamenshchik

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Dmitry Kamenshchik
Born
Dmitry Vladimirovich Kamenshchik

(1968-04-26) 26 April 1968 (age 56)
Sverdlovsk, Yekaterinburg, Russia
EducationLomonosov Moscow State University
Occupation(s)Chairman, Moscow Domodedovo Airport

Dmitry Vladimirovich Kamenshchik (Russian: Дмитрий Владимирович Каменщик; born April 26, 1968) is a Russian businessman, chairman of Moscow Domodedovo Airport, the sole shareholder in Moscow Domodedovo Airport, owner of DME Ltd., the Airport holding company.[1][2]

In April 2024, Forbes ranked Kamenschik #62 in its list of Russian billionaires with a net worth of USD 2.2 billion.[3]

Biography

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Kamenshchik was born in 1968 in Sverdlovsk (Yekaterinburg, Russia), in a family of radio physicists, the Urals Polytechnic Institute (UPI) alumni. His father managed a computer center at Uralgiprotrans, his mother had a similiar role in the classified geodesy and mapping organization.[4][5]

He started his high education on the Faculty of Physics and Energy Engineering at the Moscow Power Engineering Institute, but was conscripted and served in the Soviet Army from 1986 to 1988.[5] In 1990, he was accepted to the Faculty of Philosophy of the Moscow State University but dropped out of MSU some time later to focus on business initiatives. In 2000 he graduated from the Sociological Faculty of the Moscow State University with a major in Economic Sociology. In 2003 he received a PhD degree in Economics from Moscow State University.[4][6]

Business

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Domodedovo air traffic control tower

In 1991, Kamenschik became the main Moscow representative of East Line, an air transportation company founded by Yekaterinburg-based entrepreneur Anton Bakov.[4][7]

In the early 1990s, East Line established its business in the Moscow Domodedovo Airport. The company leased cargo planes from the airport management company, reconstructed a number of facilities in the airport, constructed a cargo terminal, a new passenger terminal, etc.[4][8]

In 1994, Bakov sold his share in East Line to Kamenschik. In the late 1990s, East Line negotiated the purchase of the state-owned stake in Domodedovo air terminal complex. In 1998, it also obtained a 75-year lease for Domodedovo facilities that were not subject to privatization (runways, taxiways, aircraft parking stands, etc.). In 1998, Kamenschik became the chairman of Domodedovo airport.[4][9]

In 2004 the Federal Agency for State Property Management (Rosimuschestvo) scrutinized the nature of the deals that provided East Line ownership and lease rights. However, the High Court of Arbitration of Russia upheld the legitimacy of the deals by three rulings between 2006 and 2008.[10]

Between 2002 and 2004, Kamenschik acquired shares of Demikhovskiy Machinery Factory, Tsentrosvar Factory and Oktyabrskiy Electric Car Repair Factory, and established a transport engineering R&D company Transmash. In 2004, he sold the assets in production and engineering. The same year, Kamenschik sold East Line (by that time, the company had a fleet of 50 planes and regional offices across Russia) and focused on the Domodedovo Airport.[7][5]

Since 2005, Domodedovo was the busiest airport by passenger traffic in Russia. In 2014, its passenger numbers reached 33 million people annually[4] It was ranked among the major airports of Europe by the Airports Council International.[11][12] To further increase the potential of Domodedovo, Kamenschik announced the investments in Aerotropolis, a business and industrial hub next to the airport.[13]

After the terrorist attack at Domodedovo Airport in January 2011 law enforcement authorities tried to determine ultimate owners of the Airport.[4] In the same year during the run-up for the IPO the holding company published information about the final beneficiary at the London Stock Exchange website and specified Kamenshchik as its sole owner.[14] However, the IPO was postponed.[15]

On 18 February 2016 Kamenshchik was arrested in connection with the Domodedovo International Airport bombing of 24 January 2011. He was accused of criminal negligence, causing the death of 37 people. Kamenshchik and Domodedovo Airport denied any wrongdoing, stating that the airport security at the time of the accident fully complied with the legal requirements of that time.[16] After the court hearings, Kamenshchik was put under house arrest until 18 April 2016. He was forbidden to leave his house, communicate with anybody except the investigators and relatives, and to use mail, internet or email.[17] Later, on 1 July 2016, due to the intervention of Deputy Prosecutor General Vladimir Malinovsky, Kamenshchik was released from house arrest.[18] On September 21, 2016, Investigative Committee of Russia closed the case due to the lack of corpus delicti.[19]

Assets assessment

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The analysis of public data on the transactions involving purchase of the airport controlling stakes in the last three years (Tolmachevo[20] in 2011, Edinburgh[21] in 2012, and Stansted[22] in 2013) suggests that the EV/LTM EBITDA average multiplier came to a factor of 17.2. Application of this multiplier to Domodedovo[23] leads to an estimated value of the airport at approx. USD 7.5 billion.

Family and hobbies

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Kamenshchik is single.[24] The Russian media outlets reported that Kamenschik has four or five children.[25] His hobbies include jet piloting, shangi martial art, diving, kiting and mountain skiing.[26]

References

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  1. ^ $3.9Bln Official Announcement of Moscow Domodedovo Airport Archived December 29, 2013, at the Wayback Machine
  2. ^ Kamenshchik Named as Domodedovo Owner
  3. ^ "Dmitry Kamenschik". Forbes. Retrieved 23 March 2025.
  4. ^ a b c d e f g "Dmitry Kamenschik (biography)". RBC. Retrieved March 21, 2025.
  5. ^ a b c Irina Mokrousova (October 20, 2014). "Dmitry Kamenschik: the owner is the concentration of risks for the company". Vedomosti.
  6. ^ "Dmitry Kamenschik". Bloomberg. Retrieved March 23, 2025.
  7. ^ a b "The Domodedovo Veteran". Kommersant. October 7, 2013. Retrieved March 23, 2025.
  8. ^ "East Line Group". Bloomberg.
  9. ^ "Moscow Domodedovo Airport plans IPO". Flightglobal. Retrieved March 23, 2025.
  10. ^ "Court Supports Privatization". Archived from the original on 2016-03-04. Retrieved 2015-06-04.
  11. ^ "Domodedovo is in the top-5 of major European airports in terms of growth". Domodedovo. February 5, 2015. Archived from the original on June 4, 2015.
  12. ^ How to steal a Russian airport (June 6, 2011). "How to Steal a Russian Airport". The New York Times. Retrieved March 23, 2025.
  13. ^ Roland Oliphant (September 28, 2011). "$3.9Bln Plan to Turn Domodedovo Into 'Aerotropolis'". The Moscow Times. Retrieved March 23, 2025.
  14. ^ "Moscow Airport Delays London IPO". WSJ.
  15. ^ "Domodedovo airport postpones IPO". RIA Novosti.
  16. ^ "Задержан владелец "Домодедово" Дмитрий Каменщик". No. 4019. Vedomosti. 19 February 2016.
  17. ^ "Владельца аэропорта Домодедово посадили под домашний арест". Meduza. 20 February 2016.
  18. ^ "Мосгорсуд освободил владельца аэропорта Домодедово". Meduza. 1 July 2016.
  19. ^ "Вины Дмитрия Каменщика не нашли". Vedomosti. September 25, 2016. Retrieved March 21, 2025.
  20. ^ Russian government sold a controlling block of shares of the Novosibirsk airport Tolmachevo
  21. ^ Edinburgh Airport sold to Global Infrastructure Partners for £807m
  22. ^ Stansted Airport being sold to Manchester for £1.5bn
  23. ^ Debt Security Documents
  24. ^ Forbes profile of D. Kamenshik
  25. ^ "Dmitry Kamenschik". KO. Retrieved March 23, 2025.
  26. ^ "Moscow Domodedovo Airport". Archived from the original on 2015-06-26. Retrieved 2015-06-03. D. Kamenshik's profile on official Moscow Domodedovo Airport Homepage
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