Aeroflot
Since 1923
Russia
Central Federal District of the Russian Federation
Moscow
Top managers:
Aleksandrovsky Sergey
Owners:
Federal Agency for State Property Management (Federal Property Management Agency)
VTB Capital - 10,27%
Ministry of Finance of the Russian Federation
Rostec (state corporation) - 3,5%
Assets | Owners |
+ Aeroflot |
Aktivs
2022
At the beginning of 2022, Aeroflot had 243 aircraft in operation.
2017
According to information as of September 2017, the airline had 6 branches in Russia: in St. Petersburg, Sochi, Magadan and Krasnoyarsk, Kaliningrad and Vladivostok. Priority attaches to the development of the domestic market, primarily its presence in Siberia and the Far East.
2010
- Based at Sheremetyevo Airport. It carries out its own flights to 97 points of 46 countries (in Russia - 28 points).
- As the largest airline in Russia, Aeroflot controls more than 42% of the Russian market for regular international transportation and about 13.7% of the market for domestic routes (including subsidiary airlines - about 20%).
- Aeroflot is constantly increasing and improving its fleet of aircraft, as well as building its own modern airport terminal in Moscow. Terminal D (Sheremetyevo-3) opened on November 15, 2009, the transfer of flights from other airport terminals began there. With a capacity of 12 million passengers per year, it will serve Aeroflot flights, as well as flights of its SkyTeam alliance partners.
Aircraft incidents
Performance indicators
2023
Growth of net loss by 2 times to 29.46 billion rubles
At the end of 2023, Aeroflot raised 497.51 billion rubles, which is 49.5% more than a year earlier. The group's net loss during this time more than doubled - from 14.31 billion to 29.46 billion rubles. The airline announced such results under RAS on February 12, 2024.
The carrier attributed a significant increase in revenue in 2023 to the expansion of the flight program, an increase in the employment of passenger seats and the restoration of revenue rates after their decline in 2022.
It follows from the Aeroflot report that, excluding exchange rate revaluations, the company in 2023 received an adjusted net profit of 50.5 billion rubles against 40.4 billion rubles of an adjusted loss for the previous year.
The loss from other activities of the company in 2023 exceeded 21 billion rubles compared to a profit of 58.2 billion rubles in 2022. The decrease in the result is mainly due to the negative dynamics of the exchange rate of foreign currencies, which led to significant expenses in the form of a negative exchange rate difference, which amounted to 99.9 billion rubles, the press service of Aeroflot explained. They recalled that the main factor in calculating negative exchange rate differences is the need to revalue the company's foreign exchange liabilities in accordance with the FSBU 25/2018 standard.
The cost of sales of Aeroflot in 2023 amounted to 490 billion rubles, an increase of 28.1%, which is lower than the growth rate of revenue. Cost growth factors - an increase in the production program, an increase in prices for purchased products and services. For example, jet fuel has risen in price by 39.8 billion rubles. At the same time, 65.5% of the growth is accounted for by an increase in the volume of kerosene purchases to expand the transportation program, and 34.5% - by the price factor. Another factor in the increase in costs is the cost of aircraft maintenance and repair due to high standards for aviation safety. These expenses in 2023 amounted to 33 billion rubles.[1]
Increase in passenger traffic by 16.3% to 47.3 million people
In 2023, 47.3 million passengers were transported by Aeroflot flights, which is 16.3% more than a year earlier, and also 3.3% higher than in 2021. The Russian air carrier disclosed its annual operating results on January 17, 2024.
According to TASS, citing Aeroflot materials, in 2023, 37.7 million passengers were transported on the company's domestic lines, 6.8% more than in 2022, and comparable to 2021.
On international lines, transportation reached 9.6 million passengers, 4.2 million and 1.1 million more passengers than in 2022 and 2021. respectively. Passenger turnover (the product of the number of passengers per transportation distance) increased by 25.4% compared to 2022, including 33.6% for Aeroflot.
Passenger seat employment in 2023 increased by 3.9 percentage points compared to 2022 and amounted to 87.5%, which is the highest annual result of the group. On internal lines, the indicator amounted to 90.0%, an increase of 4.1 pp.
In December 2023, the group's passenger traffic amounted to 3.7 million people (+ 22.3% compared to December 2022), of which Aeroflot Airlines transported 2.1 million (+ 37.3%). Passenger turnover at the group increased by 32%, at Aeroflot - by 39.6%. Despite the low season, seat occupancy reached a record high of 84.2% (+ 2.3 pp). Pobeda Airlines had a 92.4% load.
 | We managed to significantly stabilize the business, ensure the continuity of operations and main production processes, including the operation and maintenance of aircraft. We were able to restore the indicators of transportation on domestic lines, launched more than 70 international lines and identified new goals and benchmarks for ourselves, which formed the basis of a long-term development strategy until 2030, "said Andrei Chikhanchin, First Deputy General Director for Commerce and Finance of PJSC Aeroflot[2] |  |
2022
Decrease in passenger traffic to 20.5 million people
In 2022, Aeroflot transported 20.5 million passengers, which is less than a year ago at 21.4 million. The airline announced this at the end of January 2023.
According to the carrier, in 2022 its passenger turnover amounted to 56.5 billion passenger kilometers (+ 9.5% by 2021), seat employment reached 81% (+ 6.7 percentage points). Passenger transportation on flights within Russia increased by 7.6% and reached 16.7 million people. Passenger turnover on domestic lines increased by 30.3% to 41.8 billion passenger-kilometers (+ 30.3%), and the percentage of seat occupancy reached 83.7%, which is 4.7 percentage points. higher than a year earlier.
The total volume of transportation of Aeroflot airlines in 2022 amounted to 40.7 million people against 45.6 million a year earlier. The passenger turnover of the group in 2022 amounted to 98.4 billion passenger-kilometers (-1.7%), seat occupancy - 83.6% (+ 3.3 pp).
| | The operational results of 2022 and their dynamics relative to past periods should be considered in the context of the influence of environmental factors on them - the foreign policy situation and flight restrictions. After the restrictions imposed, the main focus was the normalization of operating activities, the group actively restored passenger traffic in domestic as well as available international destinations, Aeroflot said in a statement. | |
In 2022, RBC noted that over the past five years, the group has already had a drop in passenger traffic: by 50% at the end of 2020 due to lockdowns in the COVID-19 pandemic. By 2022, against the background of tough international sanctions against the Russian aviation industry, the reduction in passenger traffic is several times less. According to the results of the first half of 2022, it decreased by 7.4%, to 17.2 million people, in the second quarter - by 22.4%, to 8.7 million.[3]
Decrease in the volume of international traffic after the start of the special operation of Russia in Ukraine
In March 2022, the number of passengers of the company on international flights decreased to 189 thousand people.
2021
Decrease in losses by 3.6 times, to 34.46 billion rubles
Aeroflot, following the results of its work in 2021, registered a net loss of 34.46 billion rubles, which is 3.6 times less than the monetary losses of a year ago. Such data were published by the Russian airline in early March 2022.
Aeroflot's revenue in 2021 was equal to 491.73 billion rubles, an increase of 1.6 times compared to 2020. EBITDA grew 4.3 times and reached 116.54 billion rubles.
The air carrier's reports also report that revenue from regular passenger traffic in 2021 increased by 76.4% compared to 2020 and amounted to 398.22 billion rubles, which is due to the restoration of passenger traffic and an increase in the percentage of seat employment by 6.7 percentage points., up to 80.3%.
Revenue from freight transportation increased by 28.5% to 34.41 billion rubles against the background of an increase in the volume of cargo and mail transportation by 23.5%. Other revenues increased by 8.9%, to 34.51 billion rubles.
Operating expenses for 2021 increased by 26% compared to 2020 and amounted to 496.75 billion rubles, which was due to the restoration of operating activities - the capacity allocated increased by 35%.
Aviation fuel costs increased by 67.5% and amounted to 129.75 billion rubles amid rising fuel prices, as well as the volume of transportation and flight hours. The average fuel price for 12 months of 2021 increased by 21.1% compared to the same period in 2020.[4]
According to Dmitry Puchkarev, an expert at BCS World of Investments, Aeroflot's financial results in 2021 can be called good relative to 2020, but by March 2022 their importance for investors' perception of the company is small. Sanctions risks come to the fore, as well as related effects that could cause tangible damage to the company in the future.
Increase in traffic volume by 56%, to 45.8 million people
Aeroflot in 2021 increased passenger traffic by 56% compared to 2020 - up to 45.8 million people. Such data were published by the Russian airline at the end of January 2022.
Compared to 2019, when there was no coronavirus pandemic, COVID-19 due to which air travel at first became much less, Aeroflot's transportation in 2021 increased by 22.4%. In 2021, 37.3 million passengers were transported on domestic lines (+ 59% by 2020, + 15% by 2019), on international lines - 8.5 million (+ 43%, -68%, respectively).
According to the press service of the air carrier, the pandemic continued to affect operational results, but the indicators are beginning to recover. Transportation on domestic lines in the second quarter of 2021 exceeded the level of 2019 and exceeded the same indicators of 2019 during the rest of the year. International air traffic remained significantly limited, however, in this segment there was a gradual recovery of operations: by the end of 2021, about half of the passenger traffic was restored, the company said.
Aeroflot data states that in 2021 the group's lead carrier increased transportation by 47.1%, to 21.4 million passengers. Pobeda increased transportation over the year by 58.8%, to 14.43 million passengers, Rossiya - by 74.5%, to 9.96 million passengers. Taking into account the results of Aurora in 2020, the transportation of the Aeroflot group in 2021 increased by 51.9%, to 45.81 million passengers.
In December 2021, the group commissioned five SSJ100 aircraft (Rossiya Airlines). Aeroflot Airlines withdrew one Airbus A330-200 from the fleet and transferred one SSJ100 to Russia. At the end of the year, the group's fleet consisted of 356 aircraft.[5]
2020
Debt growth by 5.5 times to 88.9 billion rubles
To close the "hole" from the decline in sales during the coronavirus pandemic, Aeroflot attracted 80 billion rubles from the additional issue of the share, 22.4 billion rubles from short-term loans and 50.5 billion rubles from long-term ones. As a result, the company's financial debt for the year increased 5.5 times - from 15.8 to 88.9 billion rubles.
A sharp increase in debt (including both loans and lease obligations) led to the fact that the book value of Aeroflot became negative. As of December 31, 2020, the company's liabilities exceeded its assets by 115.346 billion rubles.
Decrease in revenue by 58.4%, to 229.77 billion rubles
In 2020, Aeroflot's revenue according to international financial reporting standards amounted to 229.77 billion rubles, which is 58.4% less than a year earlier. Net loss reached 96.53 billion rubles, while in 2019 there was a net profit of 5.29 billion rubles.
The deterioration in Aeroflot's financial performance is associated with the COVID-19 coronavirus pandemic, due to which the number of international flights has greatly decreased and restrictive measures have been introduced in the regions, which led to a drop in demand for flights within Russia. In this regard, the passenger traffic of Aeroflot in 2020 decreased by 61%, which in itself led to a decrease in part of the costs:
- from operations under code sharing agreements - by 43%, to 58.2 billion rubles,
- for aviation fuel - by 63.8%, up to 46.6 billion rubles,
- for ground service at airports - by 53.1%, up to 16.5 billion rubles,
- on board passengers - by 64.8%, up to 7.4 billion rubles.
As a result of the optimization measures, the company managed to achieve a combined reduction in management and commercial expenses by 37.2% (these items of expenses include expenses for the remuneration of management personnel, general economic, consulting, marketing expenses, as well as costs for booking systems).
Aeroflot noted that optimization initiatives, raising additional capital, state support measures made it possible to ensure the preservation of qualified personnel and the company's production base, as well as to ensure a high level of flight safety in an extremely difficult pandemic situation.
Thanks to optimization initiatives and the gradual restoration of the company's capacities in strict connection with demand and economic effect in the second half of 2020, it was possible to provide additional revenues, in particular from freight transportation, avoid suboptimal costs and thus partially contain the negative impact of crisis events on the financial result of the year, the carrier said.[6]
Digitalization
A separate article is devoted to the development of information systems at Aeroflot.
Company history
2022
Buyout of 10 Boeing 777 jets from Irish leasing company
In December 2022, it became known that Aeroflot bought 10 Boeing 777 aircraft from an Irish leasing company.
Increase in public share from 57.34% to 73.77%
On July 13, 2022, it became known about an increase in the state's share in Aeroflot by more than 16 percentage points at once - from 57.34% to 73.77%. These are shares that Russia will receive in the person of the Ministry of Finance and the Federal Property Management Agency. They submitted a joint application for the acquisition of more than 1.5 billion shares of the airline for 52.5 billion rubles at a placement price of 34.29 rubles.
| | The number and share of votes in percentage attributable to voting shares (shares) constituting the authorized capital of the issuer, the right to dispose of which the person received after the onset of the corresponding basis: 2 932 903 561 vote (73.77%), - the Corporate Information Disclosure Center quotes an excerpt from Aeroflot's message. | |
The company added that the funds raised from the state will help "fully cover the group's need as part of the restructuring of letter of credit debt."
The cost of the placement was approved by the Board of Directors of Aeroflot on May 4, 2022, and by the shareholders - about a month later (June 7). By July 13, 2022, Aeroflot shares on the Moscow Exchange cost about 27 rubles (as of 15:40 Moscow time): that is, 7.29 rubles (21.26%) cheaper than with an additional issue. In terms of the current exchange price, the state would pay 11.16 billion rubles less for the same volume of shares.
On July 8, Aeroflot began placing an additional issue of 5 424 308 073 ordinary shares with a par value of 1 ruble. Securities are placed on an open subscription at a price of 34.29 rubles. Thus, in the event of a full placement, Aeroflot could raise approximately 186 billion rubles in capital.
| | At the moment, the process of exercising the preemptive right continues, its progress and completion of the issue and the final amount of funds raised will be announced additionally, the company said on July 13, 2022.[7] | |
Ex-deputy general director of Aeroflot was given 7 years in prison for theft of 250 million rubles
On July 6, 2022, the Gagarinsky Court of Moscow sentenced Vladimir Alexandrov to seven years in prison. He was found guilty under Part 4 of Art. 159 of the Criminal Code (fraud on an especially large scale). Also, the former deputy general director of Aeroflot was fined 900 thousand rubles. Read more here.
Sri Lanka breaks promise, delays company plane
On June 03, 2022, an Aeroflot Airbus A330 was banned from leaving Sri Lanka. The aircraft is owned by the Irish company Celestial Aviation Trading Limited, was registered in Bermuda and had a double registration. The Sri Lankan authorities gave guarantees that they would not detain the planes, but did not keep their promise, succumbing to pressure from the countries that imposed sanctions against Russia against the backdrop of a special operation by the Russian Armed Forces in Ukraine.
Aeroflot membership in SkyTeam alliance suspended
Aeroflot's membership in the SkyTeam alliance was suspended in April 2022. The application was removed from the Play Market.
Airbus's refusal to supply paid aircraft and return money to Aeroflot amid Russia's special operation in Ukraine
In April 2022, the European aircraft manufacturing concern Airbus refused to supply Aeroflot with two A350 aircraft sold at the end of 2021, but not transferred to the Russian airline. The money received for the planes will also not be returned due to EU sanctions.
Sergey Alexandrovsky appointed general director of the company
In April 2022, Sergei Aleksandrovsky was approved for the post of general director of Aeroflot. Until now, Aleksandrovsky was the acting general director of the company.
Aeroflot's board of directors has also officially terminated its powers in Mikhail Poluboyarinova this post. "He could not work in stressful conditions," the minister said transport Russia Vitaly Savelyev against the background of a special operation of the Russian Armed Forces on. To Ukraine
According to government directives to state representatives on the airline's board of directors, signed on April 5, 2022 by First Deputy Prime Minister Andrei Belousov, Sergei Aleksandrovsky's term of office is three months. Then a five-year contract will be concluded with him.
2021: 8th place in the purchase of jet fuel in Russia
2020
Sale of a 51 percent stake in Aurora to the Sakhalin Oblast government
On December 3, 2020, it became known about the sale of a 51 percent stake in Aurora, owned by Aeroflot, for a symbolic amount. The largest air carrier in the Far East is transferred to the government of the Sakhalin Region, which becomes the sole owner of the company. Read more here.
Mikhail Poluboyarinov replaces Vitaly Savelyev as general director
On November 18, 2020, First Deputy Prime Minister Andrei Belousov signed a directive appointing Mikhail Poluboyarinov to the post of general director of Aeroflot (the state controls 57.34% of the company).
The week before, President Vladimir Putin appointed Vitaly Savelyev, who had led Aeroflot since 2009, as Minister of Transport. Now he must be elected chairman of the board of directors of the airline, about this Belousov signed another directive.
Poluboyarinov's candidacy was repeatedly considered for the post of general director. The change could take place in the spring of 2020, when the option of Savelyev's transfer to the place of Yevgeny Dietrich was discussed, and Poluboyarinov to the post of head of Aeroflot, a RBC source familiar with one of the candidates for the post of new minister told RBC. But due to the difficult situation caused by the COVID-19 pandemic, this issue was postponed, the interlocutor of RBC said[8]. On March 24, Poluboyarinov was appointed head of the State Transport Leasing Company (GTLK).
As a result, Dietrich was dismissed only on November 9. Now the government has recommended him for the post of general director of GTLK, the White House press service said.
American visas were taken from Aeroflot employees for smuggling gadgets to Russia for $50 million
On October 19, 2020, the prosecutor's office of the Eastern District of New York announced the disclosure of a scheme for smuggling electronics from the United States to Russia, in which, according to the investigation, former and current employees of Aeroflot participated. Eight citizens of the Russian Federation were detained, two more fled. Washington revoked 113 visas from airline workers.
One of the organizers of the scheme, the investigation considers a Russian named Sayyuz Daibagyu. He allegedly instructed his subordinates to enter the United States and pick up the devices. Four more defendants were preparing devices for sending to Russia. Many of the devices were stolen, the prosecutor's office claims.
The defendants in the case allegedly participated in a scheme to export electronic devices worth more than $50 million, including Apple iPhone, iPad and Apple Watch, from the United States to Russia.
According to US law enforcement, one person could transport hundreds of thousands of dollars worth of electronics. So, in early October 2020, one of the alleged participants in the scheme transported nine suitcases with 235 Apple products with an estimated value of about $250 thousand. During the searches, one of the accused found $600 thousand and a large number of electronic devices.
| | According to the investigation, the accused were members of an international smuggling group that used a network of operators here [in the United States] and in Russia to evade US export laws and rules. Given today's detentions, the network is defused, "said Seth Ducharm, prosecutor for the eastern district of New York. | |
The US Prosecutor's Office cites the names of the detainees: Akmal Asadov, Sayuz Daybagia, Anton Perevoznikov, Shokhrukh Saidov, Marat Shakhdin, Kirill Sokhonchuk, Zokir Iskander and Azamat Bobomudorov.
Press Secretary of the President of the Russian Federation Dmitry Peskov said that Aeroflot has every opportunity to respond to the accusations of smuggling made against it.[9]
The Ministry of Finance bought Aeroflot shares for 40.9 billion rubles
On October 14, 2020, the Ministry of Finance of the Russian Federation bought Aeroflot shares for 40.94 billion rubles. As part of the additional issue of ordinary shares of the air carrier, more than 682.3 million securities were purchased at the expense of the National Welfare Fund (NWF).
The shares were acquired in the exercise of the preemptive right of the Russian Federation as a shareholder of Aeroflot PJSC, the Ministry of Finance noted. The shares were bought at a price set on October 8, 2020 - 60 rubles apiece.
In July 2020, against the background of the crisis in the industry due to the coronavirus pandemic COVID-19 Government of the Russian Federation , he approved the additional issue of Aeroflot, but with the condition of maintaining control states over the company.
An additional issue of up to 1.7 billion shares in September was approved by the company's shareholders. At the same time, Finance Minister Anton Siluanov announced the plans of his department to use the funds of the NWF to buy shares.
As of October 1, 2020, the total amount of funds of the NWF was estimated by the Ministry of Finance at 13.733 trillion rubles or $172.34 billion.
| | We plan to maintain our share at least at the level that we have with you, we plan to first of all see how the market will respond to the additional issue. As far as investors will be ready to participate in this additional issue, we will also place the necessary amount of our resource accordingly - it is planned to use the funds of the NWF for this, Siluanov told reporters in September 2020. | |
The company called the purpose of the additional issue an increase in Aeroflot's liquidity amid the negative impact of the coronavirus pandemic. The general director of the airline, Vitaly Savelyev, suggested that many carriers could cease their activities due to losses.
In addition to the Government of the Russian Federation, Aeroflot's shareholders are also institutional investors, with 35.7%, individuals - 5.1%, 4.3% - a quasi-treasury stake, another 3.5% belongs to Rostec[10]
VTB Capital bought Aeroflot shares for 21 billion rubles
On October 13, 2020, it became known about the purchase by VTB Capital of Aeroflot shares for 21 billion rubles. We are talking about a 10.27 percent share of the airline.
As indicated on the Screen disclosure website, VTB Capital received 350 million ordinary registered non-documentary shares with a par value of 1 ruble each, which were placed by open subscription. The securities were transferred to buyers under the SPO, which is organized by VTB Capital.
It is clarified that the purpose of VTB Capital's purchase of Aeroflot shares is the subsequent transfer of securities within the framework of the book of applications from institutional investors formed by it as the organizer bank.
As specified by TASS in the press service of VTB, the acquisition of shares is technical in nature. The papers will be transferred to institutional investors whose applications were satisfied in the transaction process, the bank told the agency. The deal was made on October 12, 2020, Aeroflot said in a statement.
Earlier, VTB Bank said it would consider investing in Aeroflot shares if they are additionally issued.
| | Despite the strong drawdown of the air transportation industry caused by the pandemic, Aeroflot shares retain their investment attractiveness, VTB noted in August 2020. | |
In early October 2020, as part of the preemptive right (this stage lasted from September 21 to October 1, 2020), Aeroflot received applications from shareholders for the purchase of 986 997 411 shares, including an application from the Russian Federation for the purchase of 869 940 480 shares. It was assumed that the Russian Federation could also take part in the additional issue of the airline as part of the next stage - an open subscription. At the same time, it was noted that institutional investors will be offered carrier shares totaling about 39 billion rubles.[11]
Attracting 50 billion rubles from the state
On October 9, 2020, it became known that Aeroflot had attracted about 50 billion rubles from the state as part of an additional issue. Russia should at least maintain its stake in the air carrier at 51.17%.
The board of directors of the company determined the value of one share as part of an additional issue of 60 rubles. As part of the placement of securities on the Moscow Exchange, which will be held on October 9 to 23, it plans to attract at least 80 billion rubles. As a result of the formation of the application book, about 39.1 billion rubles have already been attracted (including about 9.1 billion rubles from the Russian Federation - a controlling stake in the Federal Property Management Agency). The government will also take part in the implementation of the pre-emptive right for 40.9 billion rubles, the airline said in a statement.
About 60% of the demand from investors came from Russian players, while the predominant share of foreign investors represents the UK. The exact amount of funds raised will be announced approximately on October 26, 2020.
Aeroflot plans to use the funds raised during the secondary placement for general corporate purposes and reduce the debt burden.
VTB Capital acts as the sole global coordinator and bookrunner. White & Case LLP acts as an international legal advisor on the transaction.
Boris Kvasov, co-head of VTB Capital's equity capital markets department, told reporters that demand from retail investors was insignificant.
On the Moscow Exchange on October 8, 2020, Aeroflot shares lost 5.1% in price, closing at 62.02 rubles amid news of the expected offering price. The following day, the company's securities also fell in price. So, as of 10:25 Moscow time, the carrier's securities fell by 5.23% to 59.44 rubles apiece and later fell by 5.9% to 59 rubles.[12][13]
New Board of Directors approved
In July 2020, Aeroflot shareholders at the general annual meeting approved a new board of directors, which included the head of the Ministry of Telecom and Mass Communications Maksut Shadayev.
The council also included:
- Rector of the Higher School of Economics Yaroslav Kuzminov,
- Head of the Ministry of Transport Evgeny Dietrich,
- the head of Aeroflot Vitaly Savelyev,
- Managing Director of Renaissance Broker LLC Igor Kamensky,
- General Director of PJSC "State Transport Leasing Company" Mikhail Poluboyarinov,
- Head of Rostec Sergey Chemezov,
- Head of the UAC Yuri Slyusar,
- Special Representative of the President of the Russian Federation for Digital and Technological Development Dmitry Peskov,
- Deputy Mayor of Moscow Maxim Liksutov,
- General Director of Aviakapital-Service Roman Pakhomov.
Aeroflot continues to sponsor Manchester United
The company previously said it had terminated all marketing contracts. In 2020, the next tranche of Manchester United for £10 million will be completed - this is about 1 billion rubles.
Since 2013, Aeroflot has already paid £70 million for the right to be called the club's official carrier.
Deferral of payments to VTB Leasing due to coronavirus
Aeroflot, which was badly affected by the consequences of the coronavirus, in March 2020 agreed with VTB Leasing to postpone leasing payments (holidays) for 67 aircraft (19% of the group's fleet) from April - September 2020 to July 2021. Without a delay or restructuring of payments, the industry faces collapse.
2019
Crash of the Russian airliner "Aeroflot" in Sheremetyevo: 41 people died
On May 5, 2019, an emergency landing of an Aeroflot aircraft occurred at Sheremetyevo, which came to a fire on board. 37 of the 78 people on board survived.
Video from Sheremetyevo cameras: "Superjet" hits the strip at high speed, jumps up, then beats again and lights up.
Interview with TAdviser Chief information officer Kirill Bogdanov
big data The project to create a platform for processing customer requests, built using Big Data, in April 2019# in an interview with TAdviser told about the possibilities of analysis technologies for aviation growth, Kirill Bogdanov CIO "."Aeroflot
2017: Conflict with Sheremetyevo trade union
In 2017, the Sheremetyevsky Flight Personnel Trade Union (ShPLS) published a petition demanding higher salaries. Subsequently, the Aeroflot pilots themselves discovered their fake signatures on the petition.
Later, in July 2017, the trade union announced a picket near the Aeroflot building demanding that salaries be indexed. There were 20 picketers, among them were pensioners who did not work at Aeroflot.
2015: Net financial result remains negative
The net financial result remains negative, but the reporting pleased the market - the price of the airline's share on the Moscow Exchange significantly increased[14].
The revenue of the Aeroflot Group under IFRS in 2015 amounted to 415.17 billion rubles, which is 29.8% more than in 2014. Revenue from regular passenger transportation in 2015 increased by 35.4% and amounted to 343.43 billion rubles, revenue from charter transportation decreased by 59.1%, to 6.15 billion rubles. Freight transportation brought the group in 2015 revenue in the amount of 9.6 billion rubles, which is 10.5% more than a year earlier.
EBITDA grew 2.4 times, to 58.7 billion rubles, EBITDA margin rose from 7.8 to 14.1%.
The Group's net loss for the reporting period amounted to RUB 6.5 billion, which is 2.6 times lower than in 2014. Among the subsidiaries, only Aurora Airlines (performs Far Eastern transportation) turned out to be a plus with a net profit of 137 million rubles. The rest received losses: Russia - 3.312 billion rubles, Orenburg Airlines - 1.529 billion rubles, Donavia - 398 million rubles, Vladavia, which ceased operations, also continues to generate paper losses, they amounted to 511 million rubles. It is noteworthy that the low-budget air carrier Pobeda, launched quite recently, received a loss of only 80 million rubles, that is, it is relatively close to profitability.
At the same time, according to Aeroflot estimates, the group's adjusted net profit reached 25.78 billion rubles.
"Thefinancial result for 2015 was significantly affected by exchange losses associated with the depreciation of the exchange rate against the ruble dollar, and USA the revaluation of derivatives," the Aeroflot report said. Also, the cancellation of the debt of the airline "" and Transaero its receivables amounted to an impressive 16.81 billion rubles.
2014: Loss of 17 billion rubles due to the collapse of the ruble
The net loss of the Aeroflot group in 2014 under IFRS amounted to 17.15 billion rubles. against a profit of 7.34 billion rubles. a year earlier. The company's revenue increased by 9.9%, to 319.77 billion rubles. (in 2013, this figure amounted to 290.96 billion rubles.)
As explained by the financial director of the air carrier Shamil Kurmashov, Aeroflot in 2014 received 11.3 billion rubles. operating profit under IFRS, "paper" adjustments led to a net loss of 17.1 billion rubles.
"The Group showed positive operating profit despite the effect of foreign economic factors. Non-monetary revaluation of financial leasing obligations and other one-time "paper" adjustments, including those related to exchange rate differences, led to a net loss of the group under IFRS in the amount of 17.1 billion rubles, "Kurmashov said[15].
According to the financial director, the net profit of the group under IFRS, adjusted for the impact of these factors, amounted to 10.8 billion rubles. Operating profit in 2014 amounted to 11.3 billion rubles.
Aeroflot's revenue from regular passenger traffic in 2014 increased by 10% and amounted to 253.6 billion rubles, revenue from charter traffic decreased by 12.5% to 15.02 billion rubles.
Aeroflot's total debt as of December 31, 2014 amounted to RUB 174.3 billion against RUB 86.59 billion as of December 31, 2013. Its growth is mainly due to an increase in liabilities under financial lease contracts denominated in foreign currency due to a change in exchange rate. ruble
Expenses on aviation fuel during the reporting period increased by 10.2% compared to 2013 and amounted to 87.2 billion rubles.
"This growth is associated with the dynamics of oil and jet fuel prices, the weakening of the ruble, as well as an increase in the group's transportation volumes, the expansion of the aircraft fleet and the addition of new routes," Aeroflot said in a statement.
The cost of servicing aircraft and passengers also increased by 15.6%, to 61 billion rubles. Labor expenses increased by 15% compared to 2013 and amounted to 52.15 billion rubles.
Aeroflot CEO Vitaly Savelyev said earlier that the scale of the crisis in the aviation market will be clear at the end of March 2015, following the results of the winter season.
"Then we will see real losses of companies. And it will be possible to understand what systemic measures need to be taken for the entire industry, and not for individual companies, "Savelyev in an interview with the Komsomolskaya Pravda newspaper.
Savelyev proposed to introduce wet leasing (IF) in Russia as one of the measures to support air carriers, i.e. the transfer of the aircraft together with the crew for rent to foreign airlines.
"Our pilots can legally work abroad. But somehow I can't lease a crewed plane to a foreign company. Why? We need to be flexible and be able to respond quickly to changes in the market. We do not have enough pilots - we recruit from abroad. Market decline - we give our planes with a crew to foreigners. We must be able to do this quickly, and not wait for bills to pass a certain number of circles in the State Duma, "Savelyevsaid.
Bankruptcies in the market economy, he said, are a normal phenomenon that enable companies to evolve.
"Now they say: the government will help everyone, everyone will get out. Explain then, what was the point of working effectively? It turns out that it was necessary to get into adventures, inflate the fleet, take loans, open flights in all directions. What's the difference?! After all, the state will still save, cover your mistakes at the expense of the stabilization fund, "he said.
The main unpleasant surprise of 2014 for domestic aviation was the slowdown in passenger growth by the end of the year. As follows from the statistics of the Federal Air Transport Agency, since the beginning of 2014, passenger traffic has shown positive dynamics, slowly but surely increasing. The peak fell in August, this month Russian airlines transported 11 million people, almost 12% more than a year earlier. But since September, growth rates have begun to decline markedly. So, in November, airlines transported 6.4 million people, which is only 2% more than in the same period in 2013.
Analysts attributed this to a reduction in household incomes in dollars and euros, which made it unprofitable to fly, and many travel companies went bankrupt. In December 2014, however, the situation slightly corrected: Russian airlines transported 6.280 million people, which is 6.2% more than in December 2013. In general, in 2014, passenger air transportation in Russia increased by 10.2%, to 93.181 million people.
2013: Leadership of flight personnel union condemned for extortion
In 2013, the leadership of the Sheremetyevo Flight Personnel Trade Union (ShPLS) - Alexei Shlyapnikov, Valery Pimoshenko and Sergey Knyshov were convicted of extorting 30 million rubles from Aeroflot management - demanded money in exchange for promises not to arrange provocations.
2011: Lack of space at Sheremetyevo
In April 2011, it became known that already in 2011 Aeroflot will not have enough space for passengers and aircraft in its new terminal D of Sheremetyevo Airport [16].
Aeroflot began building its own terminal at Sheremetyevo in 2005, its throughput was supposed to be 12 million people, the maximum - 14 million. Terminal D began operation at the end of 2009, but its capacity was 9 million passengers. Aeroflot reached this level in 2010.
Back in 2009, the airline's management insisted that Aeroflot with SkyTeam partners and subsidiaries should be able to accommodate and manage three terminals - D, E and F. Sheremetyevo did not share this idea. The government (the only shareholder of Sheremetyevo and the controlling one - Aeroflot) decided to unite the terminals and give them to the management of an independent company, but there was a hitch in the valuation of assets.
First, the assessment of the terminals - five Sheremetyevo and Terminal D (52.82% - at Aeroflot, 25% - at Vnesheconombank, 22.12% - at VTB) - was carried out by Troika Dialog and Credit Suisse, the owners of Terminal D in the combined Sheremetyevo received 10%. E&Y was hired, it came out with 17%. But Vnesheconombank expects 25%, and Aeroflot - 49%. On April 25, 2011, Sheremetyevo's board of directors agreed with E&Y's assessment.
"In the coming year, Aeroflot will exhaust its terminal and apron capabilities (there is already a shortage of about 25% on the apron) and will have to redistribute its volumes to other terminals, primarily terminals B and C," Sheremetyevo said in an explanatory note to Ernst & Young (E&Y, engaged in terminal assessment; Vedomosti has a copy of the note, its existence was confirmed by a representative of Sheremetyevo). In 2010, Terminal D had 9.046 million passengers; in the area of domestic flights, there was a daily congestion of passengers - 500-600 people "above normal," and in the international sector - queues at rush hour, which indicates complete congestion of the terminal, the note said, in 2010 due to a shortage of parking on the platform of Terminal D from 5 to 10 Aeroflot aircraft were located in parking near Terminal F.
In 2011, Aeroflot intends to increase passenger traffic through Terminal D to 14 million people, the number of flights - to 410 per day (42% more than in 2010). In addition to the 32 parking lots available at Terminal D, 29 additional parking lots will be needed at Terminals E and F.
But other carriers have brought to their Sheremetyevo terminals: since 2010, the Avianova low-cost airline has been based there - in five years it has pledged to provide passenger traffic of 3 million people. The charter carrier "North Wind" is going to increase passenger traffic to 1 million people in 2011, and then grow no slower than the tourist market. It strengthens its position in Sheremetyevo and Transaero: it plans to increase the number of passengers to 1.5 million. The airline rented half of the floor in Terminal F, part of the premises in the Aeroexpress building, the plans are to rent a business terminal and double the number of aircraft at Sheremetyevo.
The flight schedule has stopped, there will be no fundamental changes, the representative of Sheremetyevo said.
Aeroflot CEO Vitaly Savelyev said that Aeroflot is not going to leave Sheremetyevo in the near future, but at a meeting with Prime Minister Vladimir Putin he proposed an option for Aeroflot to move to Domodedovo after 2020.
2010: Return from Switzerland of $50m stolen by Berezovsky
In 1999, the Prosecutor General's Office of Russia opened a criminal case on abuses at Aeroflot. Charges of money laundering were brought against four top managers of the company and Boris Berezovsky as a shareholder. According to investigators, the air carrier's money was withdrawn abroad through Swiss firms close to the entrepreneur (Andava and Forus Holding). In 2006, top managers of the company were sentenced to two years in prison.
The case against Boris Berezovsky was separated into a separate proceeding. In 2007, the Savelovsky Court of Moscow in absentia found the entrepreneur guilty of embezzlement of more than 214 million rubles. and sentenced to six years in prison. After that, the Prosecutor General's Office sent a request for legal assistance regarding the return to Aeroflot of assets frozen in Switzerland.
Regardless of Russia, the Swiss side conducted its own investigation, finding out that Andava in 1996-1997. caused damage to Aeroflot in the amount of 53 million Swiss francs. In 2008, Boris Berezovsky's funds were frozen in Swiss banks. In addition to Boris Berezovsky and former Aeroflot deputy director general for finance Nikolai Glushkov, several more unnamed persons were charged (later it turned out that it was about Ruslan Fomichev and Vasily Peganov). A few months later, the country's Federal Criminal Court found those suspected of embezzlement guilty of misappropriation of assets and ordered the confiscation of frozen assets.
In August 2010, the Swiss prosecutor's office transferred 53 million francs (more than $50 million) to Aeroflot.
Aeroflot's capitalization on RTS on October 13, 2010 exceeded $2.55 billion.
2009: Passenger traffic 11 million people
Passenger traffic in 2009 - 8.7 million people excluding subsidiaries, more than 11 million people - taking into account[17].
1977: Start of passenger traffic on supersonic Tu-144
1969
1963: Landing an airplane on the Neva River
Notes
- ↑ Aeroflot publishes financial results for 2023 according to RAS
- ↑ Aeroflot Group at the end of 2023 increased transportation by 16.3%
- ↑ Aeroflot passenger traffic decreased in 2022
- ↑ Aeroflot reported losses for 2021
- ↑ Aeroflot Group at the end of 2021 increased transportation by 56%
- ↑ Aeroflot publishes financial results for the fourth quarter and twelve months of 2020 according to RAS
- ↑ Acquisition by a person of the right to dispose of a certain number of votes attributable to voting shares (shares) constituting the issuer's authorized capital
- ↑ [1]
- ↑ Ten Individuals Charged in $50 Million Russian Smuggling Scheme
- ↑ Acquisition of ordinary shares of Aeroflot PJSC
- ↑ PUBLISHED MESSAGES OF THE ISSUERS OF PJSC Aeroflot - Execution by the Issuer of a Material Transaction
- ↑ Aeroflot announces the offering price and interim results as part of the process to increase the authorized capital of
- ↑ the Bears at Aeroflot. The company's quotes did not go below the SPO price for a long time
- ↑ Aeroflot's losses went down
- ↑ Aeroflot's net loss in 2014 exceeded 17 billion rubles
- ↑ ixzz1KbmIt6l4 Aeroflot has nowhere to sit down
- ↑ Fly into the top ten
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |