Airport Mogul Eurnekian to Pass Baton to Nephew

Eduardo Eurnekian (left) will pass his business to his nephew, Martin (right)

Argentine Armenian businessman Eduardo Eurnekian reportedly will pass the ownership of the Corporacion America Airports SA to his nephew, Martin, according to a report in Bloomberg  on Thursday.

Eurnekian’s company, which operates concessions in 51 airports worldwide is looking to sell as much as $750 million of shares between January and February in an initial public offering said he will oversee the deal, “but that doesn’t’ mean I’m in charge.”

“I am doing this IPO, but that doesn’t mean I’m in charge — the one who manages the airports is my nephew,” Eurnekian told Bloomberg during an interview in his Buenos Aires office. “I will oversee this deal this month, and my career in airports will be complete.”

Armenia International Airports, which operates Yerevan’s Zvartnots and Gyumri ‘s Shirak International airports, is part of the Corporacion America Airports, which announced the IPO.

A son of Armenian Genocide survivors, Eurnekian, who has other holdings in Armenia, and has been a fixture in Armenia since its independence, transformed the Zvartnots airport from its Soviet structure to a bustling international travel hub. His investments in the Shirak airport enabled air travel to Armenia’s second largest city, which had long been dormant.

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