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Company News

21 January 2009

Aeroflot Performance in 2008

AEROFLOT PERFORMANCE IN THE DECEMBER AND TWELVE MONTHS OF 2008

 January 21  2009, Moscow. – JSC Aeroflot – Russian Airlines has revised its performance for December 2008 and the twelve months of 2008.

In December 2008, the company flew 666,000 passengers. The passenger load factor in December amounted to 64.9%, payload – to 51.8%. Despite the registered drop in demand for air services, Aeroflot was able to increase its work load in December as compared to 2007: passenger carriage rose by 5.1%, passenger turnover – by 5.4%. Passenger carriage increased by 4.1% on international lines, and by 6.9% - on domestic lines. 

Over the 12 months of 2008, Aeroflot carried 9,272,000 passengers including 5,696,300 on international routes and 3,575,300 – on domestic routes. The passenger load factor amounted to 70.9%, payload – to 56.2%. The year saw growth in all the work volume indicators as compared to 2007: passenger turnover grew by 10.4%, passenger carriage – by 13.5%. That is higher than the industry average. The biggest passenger carriage increase of 27.2% was reached on domestic lines. 

As the Aeroflot group, with its Aeroflot Don and Aeroflot Nord subsidiaries, the company flew 11,605,000 passengers, including 5,063,800 on domestic lines. 

The preliminary analysis of Aeroflot’s financial and economic performance in 2008 based on RAS (Russian Accounting Standards) shows a 26.2% revenue growth backed by curbed costs, in spite of a substantial rise in prices for jet fuel and other components. (The company’s fuel expenditure in 2008 rose by 50% compared with 2007.) This gives ground for us to expect a positive financial result for 2008, close to the 2007 level.
According to the CEO Valery Okulov, achieving those figures became possible through the timely anti-crisis measures undertaken as well as well-coordinated and proficient work of the Board of Directors and the company’s administration.