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Company News

11 January 2011

A meeting of the board of directors of JSC “Aeroflot”

December 23, 2010, Moscow - Today a regular meeting of the Board of Directors of JSC ‘Aeroflot’ was held. The meeting was presided by Russian Minister of Transport Igor’ Levitin.

The Board of Directors approved the plan of capital investments of JSC ‘Aeroflot’ for 2011 totaling 2,590 mln rubles.

The Board of Directors adopted as a basis the main areas for the strategic development of the 'Aeroflot' group up to 2025 that were submitted by the Company's Governing Board. The Governing Board of JSC ‘Aeroflot’ was instructed to develop a plan of activities for implementation of the main areas of strategic development of 'Aeroflot' group until 2025 and submit it for reviewing to the Company’s Board of Directors. According to the decision made, the 'Aeroflot' group will actively increase its market share on key global transfer marketplaces and will win leading positions on the domestic market of air services. A way to winning the markets is to enhance competitive advantages in each market segment. To ensure the most complete coverage of all attractive market segments, the 'Aeroflot' group's offers will be diversified and its activities segmented. The activities of the ‘Aeroflot’ group in those segments will be supervised by JSC ‘Aeroflot’.

The Board of Directors of JSC ‘Aeroflot’ reviewed a classification of non-core assets of JSC ‘Aeroflot’ and approaches to management of different groups of non-core assets that might assure retaining highly efficient and profitable assets while disposing of inefficient ones. The Board of Directors adopted the proposal from the Governing Board regarding management of non-core assets that aims at optimizing the content of non-core assets in accordance with the best practices of the world’s largest aviation holdings.

The Board of Directors approved leasing of four new Boeing B787 aircraft from International Lease Finance Corporation and changes to the terms of the deal for leasing of two Boeing B767-300ER aircraft between JSC ‘Aeroflot’ and International Lease Finance Corporation that was approved earlier.

The Board of Directors considered the inquiry made by Board member Sergey Aleksashenko. The Board of Directors stressed that information on the issues contained in the inquiry was twice submitted by Rosaviatsiya head Aleksandr Nerad’ko, namely, at the Board meeting held on 11 October 2010 and the meeting of the Committee for Strategy of the Board of Directors (chaired by Sergey Aleksashenko) on 18 October 2010. The Board of Directors did not find any violations committed by Aeroflot CEO Vitaly Savelyev.

Aeroflot, a leader of Russia’s air fleet, is a member of SkyTeam, the global airline alliance. Aeroflot’s overall flight network comprises 856 locations in 169 countries. In 2009, 8.755 mln passengers have used Aeroflot’s services.

Aeroflot was the winner in the contest between European members of SkyTeam in serving economy-class passengers in short- and medium-range flights and business-class passengers in long-range flights. “Onboard Survey,” the marketing survey conducted by SkyTeam from April to September 2009, confirmed Aeroflot’s leading positions.

Aeroflot was the first Russian carrier to be included in the IOSA operator registry and it continues to confirm the certificate in a regular way. The airline has successfully passed the Safety audit for ground operations (ISAGO). Aeroflot is a holder of the unified certificate of compliance with the requirements of ISO 9001:2008.

Aeroflot operates one of the youngest air fleets in Europe that consists of 100 aircraft. Aeroflot’s hub is Sheremetyevo international airport in Moscow. For more details please visit www.aeroflot.ru.

Department for Public Relations and Relations with Public Bodies