Aeroflot announces results of Board of Directors meeting

Published on : Friday, January 29, 2016

aeroflotPJSC Aeroflot (Moscow Exchange ticker: AFLT) announces the results of the Board of Directors meeting held on 28 January 2015. The meeting was chaired by Kirill Androsov.

 

The meeting’s agenda included the following items:

 

PJSC Aeroflot flight safety in 2015. Aeroflot’s flight safety indicator in 2015 stood at 99.978%, above the Company’s forecast. Given the increase in operational flight time across Aeroflot’s fleet, this result indicates the effectiveness of Aeroflot’s flight safety measures. PJSC Aeroflot and the airlines of Aeroflot Group have substantially improved their ratings under the European Safety Assessment of Foreign Aircraft programme. Aeroflot has a SAFA rating of 0.21. Priority action areas were determined for improving Aeroflot’s flight safety in 2016.

 

Investor relations activity. IR communications in 2015 emphasised the strengths of Aeroflot Group’s investment case, and this approach will be maintained in 2016. PJSC Aeroflot’s share price was supported by strong financial results for 3Q and 9M 2015. Despite the challenging macro environment, the shareholder base remained relatively stable. During the year Aeroflot received a number of sectoral awards. The need for continued active engagement with the investment community in 2016 was recognised in order to correctly position the company in a changed external environment, including the exit from the market of Transaero.

 

Update on strategic partnerships. Aeroflot believes that large-scale strategic partnerships can help it achieve its strategic goals more quickly and at minimal cost. Such partnerships in particular can minimise any negative effects of infrastructural constraints at Sheremetyevo International Airport. The optimal format for partnership-based cooperation has been developed, proposals have been sent to potential partners, and the answers received have been predominantly positive. Negotiations regarding long-term cooperation with potential strategic partners are continuing successfully. At the same time, progress on projects with some airlines have been affected by negative geopolitical factors.

 

PJSC Aeroflot’s internal documents. The meeting approved:

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