At the Aeroflot’s BOD meeting on 22 May 2006, attended by M.A. Posogyan, CEO of Sukhoys’ Aviation Holding Company, JSC, the directors discussed the opportunities of cooperation between Aeroflot, JSC and Sukhoy’s Civil Aircrafts, CJSC during the production and operation of jetliners for domestic services (RRJ – 95).
The speakers emphasized that pro-active cooperation of the parties in the project with regard to Aeroflot’s buying thirty regional class aircrafts RRJ-95 would ensure fulfillment of contractual obligations by the manufacturer in terms of the main features, quality, specified delivery terms, maintenance of high-level security and reliability during the operational period starting in 2008.
The two companies have established seven permanent joint working groups with specified work plans:
- aviation operation and licensing of aircrafts;
- raining of instructors, pilots, flight attendants and technical support personnel;
- technical specifications and technical maintenance of aircrafts;
- interior design of the cabin, passenger comfort and entertainment;
- on-land servicing;
- secure provision with aviation and technical materials;
- financial and legal support of the project.
The Board of Directors recommended extending coordinated efforts in order to prepare Russian airdromes for the beginning of operation of this type of aircraft, with all necessary materials and justification calculations to be submitted to executive authorities of the Russian Federation, including the Government of Russia, supervising organization and funding modernization of aerodromes (runways, navigation and landing systems, etc.).
The Board of Directors decided to recommend the regular Annual General Meeting of Aeroflot’s shareholders scheduled for 17 June 2006, to amend the Articles of Incorporation of Aeroflot, JSC. Among the suggested changes are these:
- to supplement the Aeroflot’s Articles of Incorporation with a text allowing Aeroflot’s JSC to place additional two hundred and fifty million ordinary shares with nominal value of RUR 1 (one ruble each share (announced shares);
- to amend the current Articles of Incorporation with regard to extended powers of the Company’s Board of Directors in making decisions about increase in authorized capital by means of placing additional shares limited by the amount of announced shares, and in placing additionally announced shares (limited by the number of these). The suggested changes comply with provisions of chapters III and IV of Federal law ‘On Joint-Stock Companies’.
The changes to the Company’s by-laws discussed during the meeting are the legal instrument essential for practical implementation of Aeroflot’s strategic goal: consolidation of state-owned assets of respective Russian aviation enterprises.
Basing on the results of a tender organized to choose auditor, the Company’s Board of Directors decided to recommend the regular Annual General Meeting of Aeroflot’s shareholders scheduled for 17 June 2006, to approve HLB Vneshaudit, CJSC as auditor of Aeroflot, JSC for year 2006.
The BOD also approved a number of transactions referring to the construction and future operation of Airport terminal Sheremetyevo-3, and to development of on-land facilities of Aeroflot, JSC in the Sheremetyevo airport.
The BOD appointed Alexey Albertovich Sidorov, commercial director of Aeroflot, member of the Management Board of Aeroflot, JSC.
The Board of Directors also adopted a number of decisions regarding organizational and legal support of the Annual General Meeting of Aeroflot’s shareholders scheduled for 17 June 2006.