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Company News

01 February 2013

The Board of Directors OF JSC “AEROFLOT”

February 01, 2013 Moscow

JSC “Aeroflot” Board of Directors ordinary meeting was held on January 31 chaired by Kirill Androsov.

The Board of Directors considered the question on Far Eastern Airline (DVA) within Aeroflot Group, which would be created on the basis of JSC “SAT Airlines”. The announced plan of action can be implemented only on condition of government support. The fact that the Far Eastern Airline (DVA) would be an important factor for development of a vast region, which has a powerful economic potential, as well as the key element of Aeroflot Group strategy, which is aimed at entering the global aviation elite, was acknowledged. Meeting the demand for regional carriages along with provision of effective level of service was outlined as a priority for the Far Eastern Airline (DVA). Along with this special focus was put on the necessity of government participation in this project – Aeroflot is ready to create the Far Eastern Airline (DVA) only on parity conditions with government and with active participation of the sub-federal units of Far Eastern Federal District. The decision remains pertinent only on condition of subsidies provision at least until 2016.

The question on aircraft maintenance and repair operations (MRO) joint venture was considered at the meeting. The objective of the suggested project is to optimize Aeroflot MRO and lower costs for technical maintenance of the aircraft. The Board considered viable creation of two joint ventures – for aircraft maintenance and repair operations and components maintenance and repair operations. State Corporation “Rostec” and SR Technics – the leading independent MRO provider on the global market with main production capacities in Europe, were chosen as preferred partners for Aeroflot in creation of the joint venture. This project is highly important for Aeroflot Group which is modernizing its fleets, as well as for other carriers operating in Russia. Construction of additional production capacities in one of the regions of Russia is intended as part of the joint venture development, as well as creation of a local components pool, which can be accessed by third-party carriers as well.

The question on JSC “Aeroflot” aircraft fleet was considered at the meeting. Commercial effectiveness of fleet utilization, employment of new types of aircraft and fleet reliability enhancement were emphasized at the meeting. Fleet of the leading Russian carrier amounts to 128 aircraft and is one of the youngest and most modern fleets in Europe. In 2013 addition of Boeing 777 and 737, Airbus 320 and 321 aircraft to JSC “Aeroflot” fleet is planned.

The Board of Directors considered the question on changes in organization structure of JSC “Aeroflot”. New organization structure of the Company was approved. The decision to approve candidature of JSC “Aeroflot” Deputy CEO Andrey Kalmykov in the capacity of First Deputy CEO for Operations and candidature of JSC “Aeroflot” Deputy CEO Shamil Kurmashov in the capacity of Deputy CEO for Finance and Commerce was made.

The Board of Directors authorized the Executive Board to make adjustments to Aeroflot Group development Strategy by the next meeting of the Board of Directors, taking into account possible consequences of restrictions, which Federal Anti-Monopoly Service is ready to impose on operations of the leading Russian carrier.

Established in 1923 with a headquarters in Moscow, Aeroflot is Russia's flagship airline and the largest national air company. Proudly being a member of SkyTeam global airline alliance, Aeroflot with its partnering members provides service to 1000 destinations in 187 countries. Aeroflot operates one of the most modern and youngest fleets in Europe counting 128 aircraft formed by Airbus, Boeing and Sukhoi airliners with an average airplane age of 5 years. In 2011 Aeroflot carried more than 14.2 million passengers, showing the best result in modern Russia's history. In the same year Aeroflot was honored with a prestigious international SkyTrax World Airline Award as 'The best airline in Eastern Europe'.