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Company News

10 June 2009

Aeroflot’s Board of Directors

REPORT OF AEROFLOT BOARD OF DIRECTORS

June 10 2009, Moscow - Today, the Russian Minister of Transport Igor Levitin chaired the meeting of Aeroflot’s Board of Directors.

The Board analyzed the financial and economic performance of the Company in Q1 2009. In the first quarter, Aeroflot had to operate in the situation of the world’s economic crisis, which predetermined the sliding demand for air transport services. This resulted in the lower performance of the Company.

The passenger turnover was 5,388.8 million passenger kilometers – 3.8% fewer than in the corresponding period of 2008. Passenger carriage went down by10.9%. Mail carriage decreased by 19.8% compared to 2008. At the same time, the decrease of 10.9% in passenger carriage by Aeroflot was twice lower than the average decrease in the Russian civil aviation (-20.7%), which ensured Aeroflot’s leading position in carriage both on Russian domestic and international markets. The operational figures in April and May revealed an upward drift in carriage as compared to the first months of 2009.

The prompt steps to balance income and expenditures in Q1 2009 along with the reverse in the exchange rates of the main currencies facilitated the Company’s net profits of 713.1 million RUB. 

The Board repeatedly considered the situation and perspectives of the subsidiary CJSC Aeroflot Cargo. In view of the 2 years of negative net assets and inability to recover net assets in the crisis period, the Board took into consideration the suggestion by the Company’s Administration to initiate the procedure of CJSC Aeroflot Cargo’s bankruptcy.

AEROFLOT is headquartered in Moscow, in the Sheremetyevo International Airport. As Russia’s largest carrier, the company flies around 10 million passengers annually, together with its subsidiaries, around 12 million passengers.
Aeroflot operates its own flights to 95 destinations in 48 countries. It accounts for over 45% of Russia’s scheduled international traffic. The company strives to enhance its share of domestic traffic, which now is 12.5% (with its subsidiaries, 17%).
Aeroflot is a member of SkyTeam, a global airline alliance. Aeroflot has given its customers an access to a route network covering 905 in 169 countries (more info is available on our website www.skyteam.com). Aeroflot operates code-sharing agreements with 28 foreign and Russian airline companies.
Aeroflot has one of Europe’s youngest air fleets that consists of 97 aircrafts, more than half are state-of-the-art airliners. The air fleet is regularly replenished. The company plans to receive the new generation Russian airplanes Sukhoi SuperJet-100.
Aeroflot complies with the highest international safety standards. Following the results of the International Air Transport Association’s Operational Safety Audit (IOSA), the company has become the first Russian carrier to be included in the IOSA Registry. In 2007, Aeroflot confirmed the certificate in compliance with the new, a more strict regulation version. Since March 2008, the company’s Quality Management System has been certified as complying with ISO 9001:2000.
You are welcome to buy an e-ticket, obtain any info on flight status and booking, obtain a ticket for your bonus miles, read the news and find out more about Aeroflot on our website www.aeroflot.ru.