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Company News

24 May 2007

Aeroflot to review released Alitalia information

Aeroflot’s offer would strengthen both airlines with their complementary networks

Moscow, May 24 – Aeroflot and UniCredit today welcomed the opportunity to review Alitalia’s financial records as part of its bid to acquire a 39.9 per cent stake in Alitalia. Aeroflot’s bid will drive Alitalia’s long-term growth as well as tap the strength of its seasoned management team, which have in the last five years successfully turned Aeroflot around to make it one of Europe’s most profitable airlines. In 2006, Aeroflot net profits rose by 10 per cent to $200 million and revenues increased by 14 per cent to $2.9 billion.

“Aeroflot and Alitalia have been working closely together since Aeroflot joined the SkyTeam Alliance in 2006 and already operate integrated critical systems such as our IT platform,” said Valery Okulov, Aeroflot's Chief Executive Officer. “The Aeroflot bid brings unique opportunities to benefit Alitalia. The combination of our complementary networks will offer Alitalia unparalleled access to the most dynamic passenger aviation market – Russia and the CIS, while Aeroflot customers will have access to Alitalia’s expanded network across Africa and South America through its Rome hub.”

Okulov added, “At Aeroflot, we have first-hand experience with airline restructuring. We understand the industry and its issues and how to effectively implement a recovery strategy. Through our proposed investments in Alitalia’s products and services, the team, which made Aeroflot a success, will make Alitalia an internationally competitive airline, while maintaining job security and service for its customers.”

Aeroflot continues to expand its services and receive industry recognition:
· Aeroflot is building a new 3rd terminal at Moscow Sheremetyevo airport which will be the biggest passenger hub in Russia, CIS and Eastern Europe
· Aeroflot won the 2006 Skytrax award for “onboard service improvement excellence,” and earned four out of five stars for its business class

About Aeroflot

OJSC “Aeroflot – Russian Airlines” is based in Moscow, Russia, at the Sheremetyevo Airport. The company was established in 1923. It is the largest air carrier with 39% of international and 11% of domestic carriages in Russia. Aeroflot is a member of the global alliance Sky Team, recognized “The Best Air Alliance” by the readers of Global Traveler Magazine in 2005 and 2006. In 2006 it carried 7.3 million passengers to 89 cities in 47 countries. Net profit in 2006 is estimated to reach 6.97 billion rubles. Aeroflot has 302 flights a day and operates a fleet of 92 aircrafts. More information is available at www.aeroflot.ru and www.skyteam.com.

##ENDS##

For further information please contact:
Vitaly Zotov
Director Corporate Communications, Aeroflot
Phone: +007 095 752 9006
Email: vzotov@aeroflot.ru

Kate Forrester
Ogilvy Public Relations Worldwide, London
Phone: +44-20-7309-1022
Email: kate.forrester@uk.ogilvypr.com 
 
Nicole Love
Ogilvy Public Relations Worldwide
Phone: +44-207-3091103
E-mail: nicole.love@uk.ogilvypr.com