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Company News

21 January 2003

The Board of Directors approved the plan for 2003

Aeroflot Board of Directors approved the plan of financial-economic and production activities of the airline company for 2003.

According to the approved plan production and financial activities are expected to bring net profit of 3,857.41 million rubles.

The Board of Directors considered the issue of Aeroflot flight safety in 2002. In the course discussing it was noted that the level of flight safety in the airline company has improved in comparison with the previous years.

Such a result was achieved owing to the measures of the Executive Board, top executives, air and technical staff of the company on carrying out the arrangements confirmed with the decisions of the Board of Directors and the Executive Board of the Company. The level of flight reliability, the quality of preflight preparation of crews and aircrafts has increased in Aeroflot. The Board of Directors noted the airline company’s rigid adherence to stiff flight safety standards.

According to the results of the complex auditing of the company carried out by the Commission of the State Civil Aviation Service in November, 2002, the aircraft operator certificate of Aeroflot was extended for the next two years.

The Board of Directors approved "Regulations on tender procedures for companies, firms and organizations that Aeroflot attracts for property sales and purchase, works and services" confirmed by the Executive Board of the Company. The Board of Director estimated positively the report on route network of the airline company and the perspective program of its development for the period up to 2010. It was mentioned that arrangement of the route development program will be stipulated significantly with increasing carrying capacity of the company’s principal airport (Sheremetyevo), replenishment (renewal) of the airline company’s aircraft fleet.

The Board of Directors approved the date and place of the annual meeting of Aeroflot shareholders, it will be conducted on April 26, 2003, at 10 a.m. in Aircraft Personnel Training Center located in Sheremetyevo-1, Moscow. Governed by Article 53 Paragraph 1 of Federal Law "On joint-stock companies" and Article 17 Paragraph 17.4 of Aeroflot Charter, the Board of Directors confirmed February 19, 2003, to be the dead line of receiving proposals of the shareholders who own no less than 2 (two) per cent of the voting stocks of the company on the agenda of the annual meeting of the shareholders and on candidates to the Board of Directors and the Auditing Commission.

The Board of Directors governed by Article 51 Paragraph 1 of the Federal Law "On joint-stock companies" and Article 16 Paragraph 16.4 of Aeroflot Charter, confirmed March 7, 2003, (the end of the working day) to be the date of compiling the list of persons who have the right to participate in the annual meeting of the shareholders of the company.