NordStar (NordStar Airlines)

NordStar (JSC AK NordStar) is a Russian airline.

Performance indicators

2023: Revenue growth by 26% to RUB 18.4 billion

According to the results of work in 2023, Nordstar Airlines raised 18.4 billion rubles, which is 26% more than a year earlier. The carrier's net profit during this time decreased by 6.3% and amounted to 1.64 billion rubles. Such data are presented in the reporting under RAS, published in early April 2024.

According to Interfax, citing materials from Nordstar, the airline's revenue increased due to a 26% increase in the flight program.

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In 2023, Nordstar transported almost 1.3 million passengers on its flights, increasing passenger traffic by 16.5% compared to the same indicator in 2022, and the annual passenger turnover amounted to 3.29 billion passenger kilometers, which is 13.7% higher than a year ago.

In 2023, the flight hours of NordStar aircraft increased by 11.6%, amounting to 30,462 thousand hours compared to 27,281 thousand hours in 2022. The total flight time in the segment of regular flights in 2023 increased by 8%, in charters - by 25%. The volume of mail and cargo transported by the airline in 2023 increased by 124.62 tons (2.6%), compared to 2022.

In 2023, the airline retained flights to traditional destinations from Moscow, Krasnoyarsk and Norilsk in its flight schedule, and also expanded its flight geography by opening 7 new destinations.

In 2023, the cost of sales of Nordstar decreased by 19.2% compared to 2022, to 17.32 billion rubles, and gross profit increased 15 times, to 1.09 billion rubles. Profit from sales in 2023 reached 808.37 million rubles against a loss of 278.96 million rubles a year earlier.

Summing up the results of 2023, the airline recalled that it received a certificate from a developer of aviation equipment, which opened up the possibility of self-development and certification of the necessary airline improvements to the operated aircraft.^[1]

History

2022

Sale by Norilsk Nickel of a 100% stake in the airline's management

MMC Norilsk Nickel, a global producer of palladium and high-grade nickel, as well as one of the largest producers of platinum and copper, on March 25, 2022 announced the sale of a 100% stake in AK Nordstar to the airline's current management. The amount of the transaction was not disclosed.

Norilsk Nickel sold 100% of NordStar shares to the management of the airline
Photo: aex.ru

The deal was closed on March 25. Among the new owners is the head of AK Nordstar Leonid Mokhov, who will continue his activities as the general director of the company.

As Sergey Dubovitsky, Senior Vice President of Norilsk Nickel, explained, Norilsk Nickel decided to focus its efforts on its main activities - the production and sale of non-ferrous and precious metals. It is also important for the company to maintain reliable uninterrupted air traffic with the Norilsk industrial district as the main industrial site. In this regard, the main condition for the sale of a subsidiary airline was to ensure uninterrupted flights with Norilsk, the implementation of the flight program by 100%, as well as the terms of the agreement on the base carrier of Norilsk airport, the top manager said.

We continue to be the base air carrier of Norilsk Airport and will fulfill all our obligations, ensuring reliable, affordable and uninterrupted air traffic between Norilsk and the largest Russian cities, "assured Leonid Mokhov, General Director of AK Nordstar.

According to him, the plans of AK Nordstar include the development of a route network, and an independent status will make it possible to do this more efficiently, without reference to the parent company and the region.

Geography of flights

As of March 2022, NordStar's scheduled flight geography covers more than 35 cities throughout Russia and the world, including Moscow, Krasnoyarsk, Norilsk, St. Petersburg, Krasnodar, Sochi, Anapa, Novosibirsk, Yekaterinburg, Beijing and other cities. From Moscow, St. Petersburg and other cities, seasonal charter flight programs are carried out annually.

NordStar carries more than 1 million passengers annually. The base airports are Domodedovo (Moscow) and Krasnoyarsk (Krasnoyarsk).

2016: Reorganization of the company

In 2016, the company was reorganized, the result of which was the legal name - NordStar Airlines Joint-Stock Company.

As of July 2016, NordStar was one of the air carriers not only, Siberian Federal District but also Russia with a passenger turnover of more than 1 million people a year. The geography of flights covered more than 30 cities and. Russia countries CIS

2011: The main air carrier of the Krasnoyarsk Territory

Since 2011, the airline has been the main air carrier of the Krasnoyarsk Territory and connecting the large cities of the region with the cities of neighboring regions, as well as performing a social function, providing air traffic with hard-to-reach northern settlements of the Krasnoyarsk Territory.

2008: Company Formation

The company was formed in 2008, when the NordStar trademark was created, and a separate legal division based on the existing Taimyr Airline OJSC.

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