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Company News

11 August 2004

Aeroflot-Nord acquired Arkhangelsk airlines company

Aeroflot-Nord where Aeroflot-Russian Airlines owns 51 % stocks and Aviainvest has 49% stocks won the auction on acquisition of federal state municipal company Arkhangelsk Airlines Company.

This purchase is aimed at the market consolidation, strengthening Aeroflot positions on home airlines, joining companies' resources for their efficient use due to routes and sales optimization.

Arkhangelsk Airlines Company is an airline company headquartered in Arkhangelsk. The company has 800 employees. In 2003 it carried 278,000 passengers, 1,569 tons of post and freight. The air fleet consists of 22 planes including Tu-154B - 4 planes, Tu-134 - 10 planes, An-24 - 4 planes, Ан-26 - 3 planes and one Yak-40.

Aeroflot-Nord is the second regional airline company that Aeroflot owns now. In 2000 with Aeroflot participation (51 % stocks) Aeroflot-Don was established headquartered in Rostov-on-Don; the company is on the tenth place among airline companies of Russia according to its operation volumes.

According to Aeroflot Deputy Director General on Strategic and Corporate Development Sergey Kharitonov, Aeroflot-Nord plans to establish new routes, renew aircraft fleet, buy regional planes, spread out high standards of Aeroflot service on regional airlines.

Aeroflot-Russian Airlines (RTS: AFLT) is the largest Russian Company. The state owns 51 per cent of its stocks. It was established in 1923. It controls 11 per cent of home and 39 per cent of international market of air carriages of Russia. According to RAP net income amounted to 3 978 million rubles in 2003. In 2003 Aeroflot transported 5.9 million passengers. There are 92 airliners in its fleet. Its headquarter is located in Moscow in Sheremetyevo Airport. It is going to build its own terminal Sheremetyevo-3 by 2007. Apply for detailed information about the airline company on its web-sites www.aeroflot.ru, www.aeroflotbonus.ru.