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Company News

11 July 2007

AEROFLOT AND ROSNEFT TO SIGN “GENERAL AGREEMENT ON STRATEGIC PARTNERSHIP AND COOPERATION”

 

JSC “Aeroflot – Russian Airlines” and JSC “Rosneft” Oil Company” have signed the “General Agreement on Strategic Partnership and Cooperation”.  Еру The Agreement was concluded on mutually beneficial and long term basis with the purpose of joint use of available production and scientific potentials, labor and financial resources of both companies in the interests of strengthening of economic potential of each of the parties.

The Agreement provides for the long term cooperation in selling by the Rosneft of petroleum derivatives and oil chemistry products to the Aeroflot, organization of transportation of the Rosneft’ employees by regular flights of the aviation company, joint use of production capacities and infrastructural objects, scientific and technical, informational, advertising, ecological and social support of mutual undertakings and interests.
In addition to that, the Agreement stipulates op[opportunities of mutual participation of the parties in establishing of storage and fueling facilities in the airports of the Russian Federation.

Cooperation will be realized on a basis of separate agreements. Control over fulfillment of the Agreement concluded and over development of mutual programs will be assigned to the working group, specially formed from the employees of the JSC “Aeroflot” and the JAC “NK “Rosneft”.
 
Joint Stock Company "Aeroflot - Russian Airlines" (AFLT) is a recognized leader on Russian civil aviation market, in fact the company is the national carrier.  Being the biggest aviation company in the country Aeroflot annually serves more than 7 million passengers, same figure being taken together with Aeroflot subsidiaries comes to 9 million passengers a year, i.e. 23% from total number of Russian air passengers. Having a fleet of 90 air vehicles the company makes flights to 93 destinations in 47 countries worldwide (302 flights a day). The company controls 51% of Russian international flights and approximately 12% of internal flights. Net profit of the company in 2006 was 7.9 billion Rubles (US$258.1 million according IFRS).

Aeroflot is one of the oldest aviation companies in the world and one of the most famous brands on the globe. Established in 1923 the company is now being based in Moscow in Sheremetyevo international airport. In 2006 Aeroflot became first Russian aviation company to join global SkyTeam alliance. Integrated flight network of the alliance combines 728 destinations in 149 countries around the world. This ensures ultimately unlimited traveling opportunities for all Aeroflot' passengers. Aeroflot' clients may enjoy all frequent flyer and bonus programs of the alliance partners. More information is available on www.skyteam.com.

Aeroflot is the one and only IOSA safety standard certified aviation operator in Russia. On-line booking may be accomplished and paid on www.aeroflot.ru.

JSC “NK “Rosheft” is one of the largest oil companies in Russia. The Company is the number one oil public company in the world in terms of possession of confirmed reserves of liquid hydrocarbons. In 2006 the “Rosneft” has produced 80,8 million tones of oil and 13,7 billion cubic meters of gas, the Company has also produced 22,7 million tones of derivative petroleum  products.

Total compiled receipts of “Rosneft” in 2006 was $33 billion, earningns before, interests,  taxes, deprecation and amortization (EBIDTA) were  $7,3 billion, while the net profit was $3,5 billion. More details about the Company are available at www.rosneft.ru .