The sale of a 10% stake in Moscow’s Sheremetyevo airport has been delayed to 2019, Chairman of the board of directors and co-owner Alexander Ponomarenko told Vedomosti business daily on Thursday.

“Now we are concluding an agreement with JPMorgan Chase bank to grant it the right to search for an investor for a 10% stake in the Sheremetyevo International Airport and to hold negotiations. The deal is planned for 2019,” he said.

“We planned to sell the 10% stake as far back as in 2017, but its value has changed significantly since then.”

ACRA analyst Alexander Gushchin has appraised the stake at around 150-170 billion rubles and said its market value may grow by additional 30-40% in 2019–2020 on condition of a stable return to debt ratio.

In January, Ponomarenko said that a private investor plans to sell 10% of the airport to a professional market participant, probably a strategic investor.