In February Aeroflot-Russian Airlines Director General Valery Okulov and Korean Air President Youngho Kim signed Code-Sharing Agreement about joint carriages on the route Moscow-Seoul.
This agreement is to be effective from March 27, 2005, the date of switching to the summer schedule.
Joint flights are to be made by both carriers on the route Moscow-Seoul-Moscow from six to ten times a week depending on the period and demand. Aeroflot plans to make from three to six flights a week by Il-96-300; Korean Air – from three to five flights by A330. According to the Agreement each carrier is to provide its partner with a number of seats on its flights; 100 seats will be provided weekly.
Moscow-Seoul-Moscow flights are introduced into reservation computer-aided systems of both companies. Later on they plan to expand their cooperation making Aeroflot flights in Russia and Korean Air flights in Korea.
The Agreement enables Aeroflot to expand its presence on the market of air carriages Russia – Korea, to use flights of the airline company-partner more efficiently providing it with additional opportunities for its passengers.
Aeroflot already signed agreements on joint carriages with 20 airline companies including Estonian Air, CSA, LOT, MALEV, Air France, Austrian Airlines, Cathay Pacific and others.
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. Net income is expected to be 5 171.50 million rubles (9181.95 million USD) in 2004. According to its financial indicators it is in the list of 25 top airline companies of the world (according to ATW). In 2004 Aeroflot transported 6.862 million passengers. There are 90 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.
Public Relations Department