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Company News

17 May 2012

Net profit of Aeroflot Group for 2011 totaled $491 mln according to IFRS, exceeding the result for 2010

May 17, 2012 Moscow

Net profit of Aeroflot Group for 12 months of 2011 totaled $491 mln. according to IFRS, exceeding the result for 12 months of 2010 by 94%.

Revenue of the Group increased by 25% and totaled $5,378 mln. Traffic revenue went up by 21% and amounted to $4,466 mln. The increase in revenue in 2011 was mainly caused by growth of the Group’s operations volume. EBITDA totaled $646 mln. Operating profit for 12 months of 2011 amounted to $388 mln.

The main drivers of the Group's net profit growth were increase of operations volume as well as sale of Aeroflot’s shares in subsidiaries and associated companies in 2011: JSC “Insurance Company “Moscow” (100% of equity capital), CJSC “TZK Sheremetevo” (31% of equity capital) and CJSC “Date” (50% of equity capital), Nordavia (100% of equity capital) and the effect from finalizing the deal of share swap of 52.8% shares of JSC “Terminal” for a stake in JSC “Sheremetyevo International Airport”.

Fnancial statements of the Group include financial results from November 15, 2011 to December 31, 2011 of four integrated airlines purchased from “Russian Technologies” State Corporation.

According to the general director of JSC ”Aeroflot” Vitaly Saveliev, strong financial results performed in 2011 reflect the achievement of 2011 year goals set up by company’s management in increasing operational efficiency of Aeroflot and its subsidiaries.

Aeroflot - Russia’s leading air carrier, member of the global SkyTeam alliance with a consolidated route network covering 926 destinations in 173 countries. In 2011 Aeroflot carried more than 14 million passengers. Aeroflotis one of the most fast-growing airlines in the world according to SkyTrax. Besides company got the prestigious international SkyTrax World Airline Awards as "The best Eastern European Airline". Aeroflot is the one of the world top 25 airlines ranked by for financial and economic results according to Air Transport World magazine (“operating profit” and “net profit” category) in 2010. Aeroflot is the first Russian carrier that has entered the IOSA Registry, and to have regularly confirmed the certificate. Aeroflot has successfully passed the ISAGO (IATA Safety Audit for Ground Operations) procedure. The Company’s Quality Management System is certified for compliance with ISO 9001:2008. Aeroflot operates one of Europe’s youngest air fleet that consists of 120 aircraft. Aeroflot is located in Sheremetyevo International Airport, Moscow. Find more at www.aeroflot.ru.