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Company News

21 September 2005

OJSC “Aeroflot” Board of Directors examined airline performance in the first half of 2005 on September 20.

September 21, 2005 Moscow. - OJSC "Aeroflot" Board of Directors examined airline performance in the first half of 2005 on September 20. The operations have increased in comparison with the same period of the last year and amounted to:

Passenger traffic102,0%(+2,0%; +192,6 m. p-k);
Ton-kilometers104,7%(+4,7%; +58,6 m. t-km);
Number of passengers carried100,5%(+0,5%; +15,8 th. p);
Cargo and mail transported111,7%(+11,7%; +7,6 th.tons).

Profit gained by passengers' transportation has increased by RUR427.9m, profit gained by cargo transported has increased by RUR627.6m. Income has grown by 17.2 percent and amounted to USD149.84m in comparison with the first half of 2004. Desired expenditure decreased by 6.7 percent.

Net profit (after taxes and other similar obligatory payments) amounted to RUR2535.9m

It was mentioned that permanent fuel price growth constrains targeted performance achievement. The fuel problem, which shakes the global air transportation, including Aeroflot, caused the Board to consider the issue on "Measures to keep company competitive and financially stable under conditions of high fuel prices, aggravation of competition, and current situation on the air transportation markets"

Directors approved provided unconventional management and commercial measures and decisions, which would facilitate stable performance and gradual development of the airline.

Directors took into consideration information on enlarging "Aeroflot" aircraft park with planes of Russian and foreign manufacture, including regional jet planes. Directors also acknowledged measures taken due to suspension of six Il-96-300 jets operation on August 22.

At the same time, the Board authorized Managing Director Valeriy Okulov to send Russian Prime Minister Mikhail Fradkov information notice about problems, related to Il-96-300 jets operation.