Aeroflot announces results of Board of Directors meeting

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PJSC Aeroflot (Moscow Trade ticker: MOEX) announces the results of a conference of its Board of Directors held on 5 April 2021 by joint attendance. 

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The assembly agenda incorporated the following merchandise.

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Growth of the Krasnoyarsk regional hub

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Pursuing the resolution by the Administration Board, the intercontinental regional hub at Krasnoyarsk will be introduced on 1 June 2021. In the summer season plan, flights from Krasnoyarsk will function to Sochi, Krasnodar, Simferopol, and Blagoveshchensk.  

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Effects of implementation of Aeroflot Group’s consolidated spending plan targets for the total 12 months 2020

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Full passenger targeted traffic for the Russian air vacation sector in 2020, together with worldwide carriers flying to and from Russia, was 73.3 million passengers. Aeroflot Group’s current market share was 42.3%. Aeroflot Team posted a internet reduction of 123.2 billion rubles, according to the IFRS fiscal effects. Dynamics of vital operational and financial metrics of the Group for the year 2020 is comparable to that of global competition similarly going through a substantially lowered demand from customers amid COVID-19 pandemic.

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The PJSC Aeroflot Auditor Report on the Group’s IFRS fiscal statements for the full yr 2020

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The Auditor (JSC Value Waterhouse Coopers) acknowledged that timing compliance for the Group’s IFRS fiscal statements preparation and issuance was in line with the world aviation industry’s best tactics.

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Once-a-year accounting statements, which include the Company’s economic success for the 2020 fiscal yr

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COVID-19 pandemic has drastically influenced monetary outcomes for the year 2020.  Coronavirus spread–induced restrictions on air vacation amongst Russia and foreign countries, on the back again of increasing vital international currencies trade fees against the ruble led to the weaker operational benefits.

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The PJSC Aeroflot Auditor Report on the Company’s RAS fiscal statements for the total year 2020

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The Audit of the accounting (economic) statements was carried out by JSC HLB Vneshaudit. The auditor famous that the economic statements precisely reflect PJSC Aeroflot’s economical placement as of 31 December 2020. 

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Implementation of Aeroflot Group’s extended-phrase development programme (LDP) and achievement of important general performance indicators (KPIs) for the full 12 months 2020

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Most KPIs beneath the Group’s LDP implementation in 2020 have been realized. Non-accomplishment of selected KPIs is the result of COVID-19 pandemic results.

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PJSC Aeroflot’s incentive system

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The personal KPI’s for 4Q 2020 and FY 2020 of PJSC Aeroflot’s deputy CEOs and other Management Board associates as nicely as PJSC Aeroflot’s Main Accountant had been largely sent on. The non-shipping on particular KPIs is the end result of COVID-19 pandemic outcomes

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About Aeroflot

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Aeroflot  is Russia’s flagship provider and a proud member of the SkyTeam world-wide airline alliance.

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Aeroflot ranks among the 20 largest airways globally.

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In 2020, Aeroflot carried 14.6 million passengers (30.2 million travellers as Aeroflot Group which include subsidiaries).

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Aeroflot was the world’s most on-time mainline airline in 2019 in accordance to Cirium’s On-Time Overall performance Evaluation. 

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Aeroflot holds 4-Star Airline standing from Skytrax and was named Finest Airline in Eastern Europe for the eighth time at the 2019 Skytrax Planet Airline Awards. Aeroflot has also been awarded a five-star international airline ranking by US aviation affiliation APEX.

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Aeroflot  was named the strongest brand name in Russia in 2020 and the world’s strongest airline brand name in accordance to primary brand name technique consultancy Manufacturer Finance. Aeroflot ranks fourth in the business for digitalisation, according to Bain & Corporation research.

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

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