Aeroflot Announces Results of Board of Directors Meeting

Published on : Saturday, April 22, 2017

aeroflotPJSC Aeroflot announces the results of a meeting of its Board of Directors held on 20 April 2017. The meeting was chaired by Kirill Androsov. The meeting agenda included the following items:

 

Results of Aeroflot Group’s consolidated budget for the full year 2016. Total passenger traffic for the Russian air travel market in 2016,including international carriers flying to and from Russia, was 102.8 million passengers. Aeroflot Group’s market share increased by 5.6 percentage points year-on- year to 42.3%. For the 12 months 2016 Aeroflot Group posted growth across key performance indicators on a par with international competitors. PJSC Aeroflot achieved 100.3% of its passenger traffic targets for the year and the Group achieved 100.1% of its targets.

 

Aeroflot Group delivered on the Board of Directors’ mandate to reduce operating expenses in 2016. For 2016 management delivered above target levels on key performance indicators (KPIs) tied to Aeroflot’s Long-term Development Programme (LDP) thanks to increased operational efficiency,implementation of expense optimisation measures and increased labour productivity. A programme to ensure that Aeroflot management’s ruling to increase accuracy of planning has been developed and successfully rolled out.

 

Delivery on Aeroflot Group’s Long-Term Development Programme in 2016 (achievement of KPIs and audit results). A report on implementation of Aeroflot Group’s LDP and delivery on KPIs was presented, confirming achievement of and over-delivery on KPI targets for 2016, successful execution of the main aspects of the programme focused on achievement of strategic goals including developing a multi-brand offering as well as achieving and stimulating demand across various price segments. An audit of implementation of the Group’s LDP and achievement of KPIs for 2016 confirmed the completeness and relevancy of the information to the degree to which the LDP activities had been completed and the KPI targets achieved in 2016, as well as the reason for the discrepancy between the actual and planned KPI metrics.

 

 

PJSC Aeroflot’s incentive system. The results PJSC Aeroflot management’s delivery on KPIs for the fourth quarter and full year 2016 were approved. Also approved were proposed parameters for execution and changes to the incentive system for members of the Board of Directors, senior management and PJSC Aeroflot personnel.

 

Source:-Aeroflot

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