Aeroflot announces results of Board of Directors meeting
PJSC Aeroflot (Moscow Exchange ticker: AFLT) announces the results of the Board of Directors meeting held on 6 December 2017. The meeting was chaired by Mikhail Poluboyarinov.
The meeting agenda included the following items:
Implementation of the strategy of Aeroflot Group
Aeroflot Group adjusted the performance indicators of its 2018-2022 strategy to account for changing macro-economic indicators and current conditions in the aviation market. Performance against the Group’s key indicators confirmed the effectiveness of the Group’s multi-brand development model. Aeroflot Group continues to develop effectively, despite the temporary infrastructure restrictions at its hub in Sheremetyevo airport. Once these restrictions are removed, the growth rate will be adjusted accordingly. There are plans to increase the number of aircraft in the Group’s fleet to 409 by 2022. Aeroflot Group will continue to introduce new technology and practices that will influence the development of the global aviation industry.
Implementation of the marketing strategy of Aeroflot Group
Aeroflot Group will hold a range of activities as part of its marketing strategy for the 2017-2021 period. They help the Group to maintain its leading position in the Russia and CIS macro-market, as well as expand its presence in key global markets. The Group pays particular attention to improving service on-board and at the airport, and to developing additional goods and services. Our confirmed 4-Star Skytrax Rating and an increase in our 2017 NPS Customer Loyalty Index to 72.5% are results that confirm the success of our marketing initiatives.
Aeroflot Group’s 2018 IFRS consolidated budget
Aeroflot Group’s operating plan for 2018, PJSC Aeroflot’s budget and the 2018 IFRS consolidated budget of the Group, as well as the 2018 investment programs for PJSC Aeroflot and the Group, were all approved. Growth is expected across all main performance indicators. Aeroflot Group’s passenger traffic is expected to grow by 11.8% in 2018, to the intended 2017 level. By the end of 2018 there will be 361 aircraft in the Group’s fleet.
Aeroflot Group’s 2018 sponsorship programme
Sponsorships for the Russian sports clubs CSKA FC and CSKA basketball club have been approved for the 2018/2019 season. The decision was based on the fact that Aeroflot’s cooperation with PFC CSKA and PBC CSKA has been successful thus far.
The Board of Directors adopted the policy concerning the Internal Audit Department with a number of significant changes, and approved the Department’s 2018 work plan.
A number of transactions between PJSC Aeroflot and its subsidiaries were approved, including code-sharing transactions with Aurora Airlines and transactions regarding the mutual transfer of passengers in case of failures (with Rossiya Airlines and Pobeda Airlines).
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