Aeroflot Announces Results of Board of Directors Meeting

Published on : Monday, February 24, 2020

AeroflotJapan Airlines Innovation Fund today announced the decision to invest in three mobility companies that are aiming to create and bring next-generation transportation technology to the market.

 

 

Established in January 2019, Japan Airlines Innovation Fund is a firm that specializes in providing CVC funding to startup companies in an aim to create new values in the airline industry. During the Company`s current medium term management plan, developing and providing a comprehensive air mobility platform is a goal that the carrier has been aiming for and has recently provided platforms to companies that are looking to demonstrate logistical drone services and to those planning to develop eVTOL (electric vertical takeoff and landing) technology.1

 

In addition, the carrier will dedicate a team of experts from the company`s Innovation Division, Business Creation Strategy Department, Mobility Group to help assist in accelerating and strengthening the partnership with the following startup companies.

 

JAL will further promote investment, collaboration, and co-creation in various startup companies both in Japan and overseas, as well as next-generation mobility companies. The carrier will aim to achieve the following SDGs by building a foundation to help innovate key technology to solve regional communitPJSC Aeroflot (Moscow Exchange ticker: AFLT) announces the results of a meeting of the Board of Directors held on 20 February 2020. The meeting was chaired by Evgeny Ditrich.

 

The agenda of the meeting included the following items:

Opening of a regional hub in Krasnoyarsk. Work on creating a hub in Krasnoyarsk is being carried out as part of Aeroflot Group’s strategic goal for regional development and in accordance with the approved plan. In 2020, Aeroflot plans to launch flights from Krasnoyarsk to 12 new destinations (Simferopol, Sochi, Yekaterinburg, Tyumen, Tomsk, Omsk, Novosibirsk, Bratsk, Irkutsk and Yakutsk in Russia; as well as Beijing and Sanya in China) with banking of scheduled flights. The Krasnoyarsk-based fleet will consist of Superjet 100 and Boeing 737-800 aircraft. Aeroflot Group’s passenger traffic will exceed 1 million passengers at the Krasnoyarsk hub in 2020. Aeroflot plans to continue to implement marketing support for the hub at Krasnoyarsk Airport.

 

 

Service enhancement across Aeroflot Group. A number of prestigious global awards and high placements in international ratings for 2019 confirmed Aeroflot’s position as a leading global carrier in terms of service. The airline’s NPS customer loyalty index increased to 73% (+1 percentage point), and its service development programme for 2019 was successfully implemented. Aeroflot also upgraded the assortment and supply of in-flight catering in its Business Class, introduced children’s travel kits for children under 2 years of age, increased circulation of non-Russian-language press and in-flight magazines, and expanded its range of content for visually impaired passengers. Sheremetyevo International Airport has established passenger service at its new international Terminal C. In 2020, Aeroflot will take its Business Class customer service to a new level across its entire wide-body aircraft fleet, particularly with the launch of the newest Airbus A350-900. The interior design concept of the new narrow-body aircraft of the Airbus A320 neo family is approaching the standards of the wide-body fleet.

 

 

Implementation of Aeroflot Group’s Strategy. Aeroflot Group’s marketing strategy for key macro markets through 2023 has been updated in connection with the update of the Group’s overall Strategy. The new marketing plan takes into account leading trends in advertising and marketing communications, including the growing importance of digital channels and active use of Big Data technologies. The benefit of effective partnerships in global sports was also confirmed when Aeroflot took part in the FIBA Basketball World Cup in China, a major sporting highlight of 2019.

 

 

Investor Relations. In 2019, share prices of publicly quoted airlines globally increased by 3% on average. At the same time, share prices varied across different regions, ranging from restorative growth to significant declines under the influence of specific factors in their respective markets. Aeroflot’s share price increased by 2%. In 2019, Aeroflot held approximately 200 meetings with funds and banks, organized an Investor and Analyst Day in London with the participation of the Company’s top management, and regularly communicated the Group’s strategic development goals to stakeholders. The meeting also reviewed the results of research conducted on the perception of Aeroflot’s investment case and shareholder identification, which showed that Aeroflot has effectively implemented its annual plan for working with the investment community. The Company’s IR work was highly rated by the professional community, receiving top rankings in the independent Extel and Institutional Investor ratings, as well as in the Moscow Exchange competition. Finally, the Company’s Investor Relations plan for 2020 was approved.

 

 

PJSC Aeroflot’s incentive programme. The Board approved amendments to the list, weights and target values of the Long-Term Development Programme of PJSC Aeroflot and its CEO for 2020 in accordance with the Directive of the Government of the Russian Federation on Improving Labour Productivity.

 

 

Implementation of the Road Map to meet the requirements of the Decree of the Government of the Russian Federation No. 955 from 24.07.2019. The Board considered the progress made and the future prospects of work on the implementation of the government resolution on the transfer of servers with passengers’ personal data by foreign booking systems to Russia.

 

 

Aeroflot’s participation in associations. The Board decided that Aeroflot’s participation in the National Association for Technology Transfer (NATT), the Russian Association of Air Transport Operators (AEVT), and the International Congress of Industrialists and Entrepreneurs (ICIE) was in line with the Company’s goals. Questions about participation in these associations will be submitted to the general shareholders’ meeting of PJSC Aeroflot, if relevant directives are received from the Government of the Russian Federation.

 

 

The Board also considered the Company’s approach to its planned event for the presentation of the first Airbus A350-900 at Sheremetyevo Airport.y issues, including disaster response services and medical care.

 

Source:- Aeroflot


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