May 21, 2013 MOSCOW
JSC «Aeroflot» Board of Directors ordinary meeting chaired by Kirill Androsov was held on May 21, 2013. The Board of Directors has set the procedure and the agenda of the Annual General Shareholders Meeting planned for June 24, 2013.
The Board of Directors approved Aeroflot Annual report 2012 and recommended the annual shareholders meeting to ratify it. The report confirms the absolute leadership of Aeroflot at the national passenger air transportation market. One of the most successful air companies in Europe, Aeroflot celebrated its
In 2012 Aeroflot managed to show the best results possible amid difficult circumstances for the global transport industry and increased Aeroflot Group’s share in the national passenger air transportation market from 26% to 37%.
The main objectives for 2013 are to increase carriage volumes of the Group up to 33 mln. passengers, to expand and develop the route network, to increase the on board service quality, to expand and modernize the fleet, to introduce new IT solutions, to enhance the Group management and to create a solid global aviation holding.
As a part of Aeroflot’s Ordinary Annual General Shareholder Meeting preparation the Board of Directors approved the agenda of the Annual General Shareholder Meeting.
The Board of Directors endorsed and recommended the shareholders to approve the annual financial statements of JSC «Aeroflot», including the Profit and Loss Statement of the Company for 2012. Revenue of JSC «Aeroflot» for 12 months 2012 amounted to 177 906 mln. RUB (showing 31 % growth). Net income reached 4 939 mln. RUB.
In accordance with the recommendations of The Federal Agency for State Property Management (Rosimushchestvo) it was proposed to pay out 26,2 % of net income in the form of dividend. The Board of Directors approved and recommended the shareholders payment of the dividends on JSC «Aeroflot» shares based on the results of 2012 fiscal year in the amount of 1, 1636 RUB per share from June 25, 2013 to August 23, 2013. The total amount of the dividends will be 1 292,4 mln. RUB. 661,3 mln. RUB of them will go in favor of the state.
The information and opinion of the Revision Committee as well as opinion of the independent auditor of JSC «Aeroflot» and Audit Committee of the Board of Directors following the results of 2012 fiscal year have been reviewed and taken into consideration. Upon examining the reports of JSC «Aeroflot», auditor’s and Revision Committee opinion, Audit Committee of the Board of Directors recommended the shareholders to ratify the presented financial results of the Company for 2012 fiscal year.
The results of tender of the independent auditor companies were examined at the meeting and the recommendation to the shareholders of JSC «Aeroflot» to approve the winner of the tender, audit company CJSC «BDO», as an independent auditor for 2013 was issued.
The Board of Directors considered the question of the deals to be studied at the Annual General Shareholders Meeting, including the deals to be concluded by the subsidiary companies following the strategy of further Group expansion and development.
The Board of Directors decided to close the representative office of JSC «Aeroflot» in Perm and establish a branch in this city instead. The decision was taken due to Moscow Sheremetyevo airport congestion and such an approach will contribute to the further regional network development.