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Company News

08 February 2017

Aeroflot Wins East Capital's Best Growth Award

8 February 2017, Moscow. Aeroflot has been awarded East Capital’s prestigious Best Growth Award in recognition of its achievements in delivering robust growth and outstanding financial results in 2016.

East Capital, one of the largest foreign investors in Russia, established its annual awards in 2004 to acknowledge the progress made by outstanding companies in its portfolios. Best Growth, the flagship nomination category, honours companies that demonstrate exceptional growth of sales, market share and profit margins.

In presenting the award, East Capital emphasised Aeroflot’s important role in the consolidation of the Russian aviation market, and highlighted Aeroflot’s steady growth in passenger traffic despite the overall market decline.

East Capital also lauded Aeroflot’s financial performance. In the first 9 months of 2016, Aeroflot’s EBITDA grew by 61.3% year-on-year, after already doubling in the prior year. The EBITDA margin reached a historic high of 20.2%. In addition to offering an attractive growth profile, the investment firm noted Aeroflot’s double-digit dividend yield and robust stock returns. Aeroflot shares repeatedly traded at all-time highs in 2016.

The expert panel that made the award said Aeroflot was “an inspiration” for its peers. In 2016 Aeroflot achieved a landmark in the highly competitive international market, as its market capitalization exceeded that of peers such as the Air France-KLM group and Turkish Airlines, and equaled that of Air Canada.

This prestigious award from the international investor community further underscores the attractiveness of Aeroflot’s investment case and long-term market potential, driven by the airline group’s successful multi-brand strategy, efficient management and award-winning superior travel product.

Aeroflot CEO Vitaly Saveliev received the prestigious award from East Capital Partner and Head of Eastern Europe Jacob Grapengiesser.

“2016 was indeed a year of growth for Aeroflot. Our share price grew by 173% in RUB (or 226% in USD), leading the way in our sector. During the year we carried more than 43 million passengers. We achieved double-digit growth even as the overall Russian aviation market decreased. Looking ahead, we remain on track to deliver on our strategic goals for 2025,” Vitaly Saveliev said. 

Aeroflot is Russia’s flagship carrier, a proud member of the SkyTeam global airline alliance. Aeroflot and its partners serve 1,062 destinations in 177 countries worldwide. In 2016, Aeroflot carried 29 million passengers (43.4 million passengers as Aeroflot Group including subsidiaries).

In 2016 Aeroflot became the first Russian airline to be awarded Four Star Airline status by Skytrax in recognition of the high-quality of its customer service, and was also named Best Airline in Eastern Europe for the fifth time at the Skytrax World Airline Awards.   

Aeroflot operates one of the youngest fleets in the world with 190 aircraft. Aeroflot is based in Moscow, in Sheremetyevo International Airport.

Aeroflot is among the global leaders in aviation safety, with a European Community Safety Assessment of Foreign Aircraft (SAFA) Index, the main globally recognized safety parameter, comparable to global peers.

The first Russian carrier to enter the IATA Operational Safety Audit (IOSA) register, renewing its registration for the sixth time in 2015, Aeroflot has successfully passed the IATA Safety Audit for Ground Operations (ISAGO) and is fully ISO 9001:2008, ISO 14001:2004 compliant.