Aeroflot announces results of Board of Directors meeting

Published on : Friday, November 27, 2015

aeroflotPJSC Aeroflot announces the results of the Board of Directors meeting held on 26 November 2015. The meeting was chaired by Kirill Androsov.

 

The meeting’s agenda included the following items:

 

Aeroflot Group’s operational results and IFRS consolidated budget for 2016. The Board approved the following:

 
– 2016 operational results targets for Aeroflot Group. It is envisaged that this will include a regional carrier operating under the Rossiya brand and comprising the Rossiya, Donavia and Orenair airlines, as well as the fleet acquired following the exit from the market of Transaero. This is expected to increase operational results, including passenger traffic.

 
– 2016 IFRS budget for PJSC Aeroflot. Operational growth is planned to reach 2015 levels. This includes the implementation tasks that are of high importance to the state and to society, including increasing PJSC Aeroflot’s headcount with former employees of Transaero.

 
– 2016 IFRS consolidated budget for Aeroflot Group, based on the growth prospects of the Group’s key business lines. The Group’s total fleet is expected to increase by more than 30 aircraft and reach around 290 aircraft.

 
– 2016 investment programme for Aeroflot Group. The Board of Directors approved the investment programmes for PJSC Aeroflot and Aeroflot Group for 2016. The principle areas of investment were set. For PJSC Aeroflot this includes the costs of software maintenance, aircraft upgrades, provision of airport ground handling services, development of a flight simulator centre, support for a passenger service centre, development of IT systems and research and development along with a number of other items.

 
– Sale of six Airbus A321-200. To optimise its fleet, the PJSC Aeroflot Board of Directors approved the sale of six Airbus A321-200 with serial numbers 2342, 2903, 2912, 2957, 2965 and 3191 to AviaAm Leasing AB.

 
PJSC Aeroflot internal documents. The Board of Directors approved the following:
– Regulation on the Development and Implementation of the Programme of Innovative Development (R&D). The purpose of this is to create conditions to improve the efficiency of Aeroflot’s innovation programme, given the priorities of the state innovation programmes and the aviation sector.

 
– Regulation on Aeroflot Group’s Risk Management System. This document outlines the goals and organisational principles of PJSC Aeroflot and its subsidiaries’ risk management system, as well as the distribution of rights, obligations and responsibilities within this system.

 
The Board also discussed Aeroflot Group’s employee motivation scheme.

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