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Company News

29 August 2018

Aeroflot announces results of Board of Directors meeting

29 August 2018, Moscow – PJSC Aeroflot (Moscow Exchange ticker: AFLT) announces the results of a meeting of the Board of Directors held on 28 August 2018. The meeting was chaired by Mikhail Poluboyarinov.

The Board approved appointments to the management team.

  • The Board of Directors elected Vitaly Saveliev as CEO of Aeroflot for a term of five years. 
  •  The Board approved Andrey Chikhanchin as Deputy CEO for Commerce and Finance. He previously headed the Corporate Finance department and was serving as acting Deputy CEO for Commerce and Finance.

The agenda of the meeting also included the following issues:

  • New Aeroflot Group strategy. Aeroflot achieved the key goal of its Strategy-2025 ahead of time by becoming one of the 20 largest global airlines by passenger traffic. The Board approved the following approaches to updating Aeroflot Group’s Strategy-2023:
    • ensuring a significant increase in passenger traffic;
    • faster growth of international transfer traffic;
    • launching new regional bases and hubs;
    • increasing the proportion of Russian aircraft in the Company’s fleet;
    • continuing digitalization of the business.

Aeroflot Group’s updated Strategy-2023 will be presented at a meeting of the Board of Directors in September 2018.

  • IT development at Aeroflot Group. Aeroflot is successfully implementing the core components of its IT strategy. As well as automating key business processes, the Company is also actively increasing its online presence through online sales (Aeroflot’s website is Russia’s leading online store, with online sales increasing by approximately 35%). Mobile devices are becoming ever more significant for passengers (sales through mobile devices have doubled) and Aeroflot staff (new Crew Tablet functionality is being introduced for flight attendants and Electronic Flight Bag extended for pilots). The Company is further developing key operating systems including NDC for travel agents (the system has been certified and meets the highest international standards). The Company’s top priorities include cloud solutions (44% of processing resources already virtualized by own data centers) and Big Data (economic benefits to date are 3.8 times higher than expected). Data management efficiency has significantly improved (including the Data Window project, a new format for data representation in the Manager’s Monitor tool).
  • Operating and financial performance of PJSC Aeroflot. The Board reviewed budget planning and updated macro assumptions for the current year. The Group continues its operational growth, development of its network and fleet. The Company has launched a number of optimization initiatives to improve its financial performance in the current economic environment. Aeroflot plans to execute these initiatives as well as implement new ones in order to offset macro headwinds for Group’s financials.
  • The Board also approved a number of transactions, including the terms of a transaction with Pobeda Airlines regarding the leasing of ten new Boeing 737-800 aircraft contracted in 2017.

 

About Aeroflot

Aeroflot is Russia’s flagship carrier and a proud member of the SkyTeam global airline alliance. Aeroflot serves 146 destinations in 52 countries.

Aeroflot’s 243-strong fleet is the youngest of any airline worldwide that operates more than 100 aircraft. In 2017, Aeroflot carried 32.8 million passengers (50.1 million passengers as Aeroflot Group including subsidiaries).

Aeroflot holds 4-Star Airline status from Skytrax and was named Best Airline in Eastern Europe for the seventh time at the 2018 Skytrax World Airline Awards. Aeroflot has also been awarded a five-star global airline rating by US aviation association APEX.

Aeroflot is the world’s strongest airline brand according to leading brand strategy consultancy Brand Finance.

Find out more at http://www.aeroflot.com/