October 25, 2010, Moscow. Based on the IFRS data JSC Aeroflot Russian Airlines got 34th place in the Finance 500 rating of largest Russian companies in terms of their performance results in the first six months of 2010. Aeroflot has been upgraded 8 rating points compared to the respective period of 2009.
The obtained positive financial results of the Aeroflot Group of Companies were achieved due to measures taken by the company’s management to improve its operation and renew demand for air travel which had a positive impact on the position of Aeroflot in the Finance rating. For an enterprise in the top-100 of the rating of 500 largest Russian companies 8 points is similar to 100 for companies at the end of the Finance-500 rating.
According to Vitali Saveliev, the head of Aeroflot Airlines Company, ’the company’s current financial standing is quite stable and Aeroflot has potential to increase its share in the internal and external air travel market. We will definitely use this potential.’
Companies included into the list of 500 largest Russian enterprises are judged based on several criteria:
- proceeds (net sales generated by a company after the deduction of VAT, excise and similar compulsory payments);
- operating income — profit (loss) after taking out operating expenses according to the Russian Accounting Standards and operating income for the IFRS and US (UK) GAAP;
- equity capital — capital and reserves within the Russian Accounting Standards and share capital (without considering the share of minority shareholders) for the IFRS and US (UK) GAAP;
- currency rate (recalculation of proceeds and profit at the medium exchange rate of ruble to dollar in 2009 — 31.72, 2008 — 24.86).
Aeroflot is a leading air transport company in Russia as well as a member of SkyTeam, a global airline alliance. The cumulative network of routes comprises 898 destinations in 169 countries of the world. In 2009 Aeroflot transported 8.755 ml people while the Aeroflot Group of Companies transported 11.1 ml.
Aeroflot came first among European members of SkyTeam in the quality of its passenger service in economy class on short and medium range flights and in business class on long haul flights. The leadership of Aeroflot was established based on the SkyTeam Onboard Survey over the period of April — September 2009.
Aeroflot is one of the 25 leading world airlines in terms of financial and economic activity in 2009 (operating and net profit), according to the Air Transport World magazine.
Aeroflot was the first Russian carrier to enter the IOSA registry and has kept up the standard ever since. The airline has been successfully audited in terms of its compliance with the ISAGO safety requirements for ground operations. The company complies with ISO 9001:2000.
Aeroflot has one of the youngest aircraft fleets in Europe comprising 100 planes. Aeroflot headquarters are in Moscow in the international airport Sheremetyevo. For more information see www.aeroflot.ru.
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