warning!You useInternet Explorer. Certain functions may not work correctly. We recommend that you use a different browser.

Company News

26 October 2019

Aeroflot announces the results of Board of Directors meeting

25 October 2019, Moscow. — Aeroflot announces the results of the Board of Directors of PJSC Aeroflot (Moscow Exchange ticker: AFLT) meeting, which was held on 24 October 2019 and chaired by Evgeny Ditrich.

The agenda of the meeting included the following items:

Aeroflot Group performance 2020 forecast. Aeroflot Group is set to continue its robust development given current macroeconomic trends in Russia and biggest global economies. Aircraft fleet expansion and key performance indicators growth are forecasted.   

Key risks affecting Aeroflot Group Strategy implementation.  Major risks, which might impact Aeroflot Group’s 2023 Strategy implementation, have been addressed. To mitigate present risks Aeroflot Group has introduced measures to foster continued development and ensure achievement of its strategic goals.

Aeroflot Group’s route network development. In 2019, PJSC Aeroflot’s network (including flights operated by subsidiary airlines under Aeroflot’s commercial management) has reached 225 routes.  2020 is set to see Krasnoyarsk hub launch and long-haul network development.  

JSC “Rossiya Airlines” development strategy. The Board of Directors took in consideration the principles of the company’s development in the markets of Saint Petersburg and Moscow, aircraft fleet development.   

Cargo transportation at Aeroflot Group. Global cargo market is expected to post steady but low growth. According to IATA’s forecast, average annual increase in cargo volumes will reach up to 4.4% until 2023. Aeroflot continues to enhance efficiency of cargo and mail transportation business through further leverage of latest digital technologies and IT-products, which goes in step with international trends.

Shareholder and investor relations. In 2019, the Russian stock market has posted a positive dynamics; positive dynamics of oil price has been one of key factors of Russian stock indices growth.  Since the beginning of the year Aeroflot shares have demonstrated positive dynamics. This agenda item embraced a review of indicators and stock quote of biggest airlines posting a variety of trends depending on the regions and specific factors, including geopolitical.  Intense IR-work has been ongoing throughout the year. It included communicating the Group’s development strategic goals, raising awareness of new IFRS-16 standards across the investor community.

IT development at Aeroflot Group. The Board of Directors has reviewed the status of the roadmap implementation to comply with the Russian Federation Government regulation № 955 «On stipulation of requirements for automated information system of air transportation processing, for the system’s integral databases, for information and telecommunication network, supporting the automated information system function, for its operator, for measures to protect the information the system contains, and for the order of its functioning”.  

Charitable activities. The report on use of the charity budget for 2019 (as of October 2019) was reviewed.

Extension of earmarking of funds invested by shareholders in the charter capital of JSC Aurora Airlines. The Board of Directors approved the extension of the designated purpose of the funds earmarked by the Sakhalin Oblast Government for the “Hangar Complex” investment complex. The facility will service up to three aircraft simultaneously, will help add more maintenance services, аnd improve operational efficiency through enabling routine maintenance works at night-time, all year round.

 

About Aeroflot

Aeroflot is Russia’s flagship carrier and a proud member of the SkyTeam global airline alliance. Aeroflot serves 149 destinations in 53 countries.

Aeroflot’s 249-strong fleet is the youngest of any airline worldwide that operates more than 100 aircraft. In 2018, Aeroflot carried 35.8 million passengers (55.7 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 eighth time at the 2019 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/