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Company News

31 October 2006

In the Board of Directors of JSC "AEROFLOT"

On October 27, 2006 the Board of Directors of JSC "Aeroflot - Russian Airlines" has examined the status of cooperation between JSC "Aeroflot" and ZAO "Grazhdanskiye Samoloty Sukhogo" ("Sukhoil Civil Airplanes") in developing of regional class aircraft "Sukhoi SuperJet-100". Aeroflot became the first purchaser of this aircraft having signed a contract for delivery of 30 vehicles of this type. The Board of Directors has stressed that the aircraft production program is being realized in conformity with the schedule and working plan, which is facilitated by cooperation of Aeroflot and "Sukhoi Civil Airplanes" within the framework of specially established working group. Cooperation of two companies covers the issue of drafting of modern requirements related to the organization of technical maintenance, training of flying and technical staff, aircraft cabin configuration in the interests of ensuring of competitiveness of the aircraft.

The Board of Directors has examined risk and insurance measures undertaken by the company's management. It was emphasized, that the insurance support measures are complying with the best international standards. At the same time within the period of 2004 - 2006 the insurance expenses have been decreased by 30%. This became possible due to enhancing of insurance rating of the company in connection with joining by Aeroflot of the SkyTean global aviation alliance, successful completion of international audit of operational safety of the company and obtaining for the first time in Russia of IOSA-IATA operator certificate.

The Board of Directors has approved expansion of the Company's activities into the segment of business-transportation. The reviewed Business Plan stipulates establishing of subsidiary company on a basis of "Aeroflot Plus" enterprise with 100% stake belonging to Aeroflot. The new company will be specializing in business transportation based on operation of modern competitive vehicles.

The Board of Directors has reviewed the status and current tasks related to the development of on-ground service of Aeroflot' passengers and technical maintenance of the airplanes in the airports. The Board of Directors has emphasized and accented the priority tasks dealing with recruiting of the new staff, implementation of new technologies for luggage checking-in and processing, expanding of the company's infrastructure in view of the launching in November 2007 of Scheremetyevo-3 terminal.

The Board of Directors has approved measures aimed at improvement of efficiency of Aeroflot' participation in SkyTeam alliance, having positively treated the earning of additional revenues and enhancement of the flight loading parameters based on the code-sharing agreements signed with the alliance partners, decreasing of expenses in some spheres, including airport service costs. At the same time the Board of Directors has mentioned, that the efficiency of SkyTeam alliance membership would be much higher in case of existence of legislative documents regulating implementation of the electronic ticketing technology.

The Board of Directors has approved establishing in Magadan of the Company's affiliated office aimed at subsequent establishing and development of the operational base of the company in the region, provisioning of the Magadan Oblast residents with reliable aviation communications. It is assumed that this branch may employ part of the staff of FGUP "MAVIAL Aviation Company" (Magadan Airliones), which would allow to resolve the existing social conflict.

Establishing of the affiliated office would become one of the elements of the project dedicated to consolidation of air carriage through the establishing of the Far East subsidiary company.