Armenian Argentine mogul, benefactor, National Hero of Armenia Eduardo Eurnekian is retiring from airport business.

He has made that announcement in the interview to Bloomberg, noting that his nephew Martin Eurnekian will be his successor.

Bloomberg reports that Eurnekian’s  Corporacion America Airports SA, which owns concessions to operate 51 airports worldwide (including Zvartnots and Shirak airports in Armenia – Banks.am), is looking to sell as much as USD 750 million of shares through IPO between late January and February.

“I am doing this IPO, but that doesn’t mean I’m in charge - the one who manages the airports is my nephew. I will oversee this deal this month, and my career in airports will be complete,” said Eduardo Eurnekian.

Nevertheless, the 85-year-old Eurnekian has no intention to retire from business entirely. According to him, handing over day-to-day operations will free him up to explore new areas of business.

Armenia International Airports has made no comments on this news so far.