DOCSLIB.ORG

Annual Report 2008

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2008 Investment Financial Company AVIALEASING, CJSC ANNUAL REPORT 2008 Perm, 2008 ANNUAL REPORT 2008 1 MESSAGE FROM THE PRESIDENT ...................................................................................... 2 MESSAGE FROM THE GENERAL DIRECTOR .................................................................... 3 THE AIRCRAFT MARKET OVERVIEW 2008 ........................................................................ 6 Economic Environment. Key Trends .............................................................................. 6 Legal Environment. Key Trends ..................................................................................... 22 Technical Overview. Key Trends .................................................................................. 27 Market Overview. Key Trends ....................................................................................... 36 Needs of Domestic Airlines. Key Trends ....................................................................... 42 AVIALEASING COMPANY IN 2008 ................................................................................ 48 Mission .............................................................................................................................. 48 Positioning in the Sector ................................................................................................ 49 Our Partners ..................................................................................................................... 67 Operating activity .......................................................................................................... 69 Results of Company’s activity ...................................................................................... 78 Financing and loans ....................................................................................................... 79 Company’s credit history .............................................................................................. 90 Development Prospects ................................................................................................ 93 Risk Management .......................................................................................................... 99 Company corporate structure ................................................................................... 102 Corporate activities ..................................................................................................... 103 Governance .................................................................................................................. 103 Information for Shareholders ...................................................................................... 109 Staff. HR Policy. Corporate Ethics and Customs ...................................................... 112 Subsidiaries and Rep Offices ...................................................................................... 114 FINANCIAL REPORT OF THE COMPANY ..................................................................... 115 Consolidated Financial Statements of IFC ‘Avialeasing’ CJSC Group ............... 115 Separate financial statements of IFC ‘Avialeasing’ CJSC ..................................... 147 Accounts prepared according to the Russian accounting standards ............... 152 GLOSSARY ...................................................................................................................... 173 APPENDIX ....................................................................................................................... 192 2 ANNUAL REPORT 2008 MESSAGE FROM THE PRESIDENT Dear Ladies and Gentlemen, The preceding year happened to be not the easiest one for Avialeasing Company. The progressing economic crisis and consequent failures of financing vehicles as well as the rapid increase of aviation fuel prices could not but affect the operating activity of investment financial company that focuses on the aircraft leasing. However, we proceeded with the fleet optimization we had started in 2007 and kept owning just the youngest and most efficient planes. Thoroughly knowing the market from the inside and pursuing the chosen mission which consists in providing the domestic airlines with reliable, most comfortable and cost-effective aircraft we have decided to develop the regional segment of air transportation the increasing demand for which nowadays faces rather a poor supply. Avialeasing sees its prospects in implementing the projects of reequipping the domestic airlines with the new Russian regional aircraft Sukhoi Superjet 100 which we consider the only viable competitor to the foreign-made products at the Russian aviation market. The first move towards the goal was made at Farnborough Airshow, Great Britain, where in July of the last year we signed the Heads of Agreement with Sukhoi Civil Aircraft, CJSC for acquisition of 24 Sukhoi Superjet 100 planes. Realizing that the aircraft cannot be promoted at the Russian market without the high-technology maintenance support the Company has initiated and integrated the project of establishing the service center to maintain Sukhoi Superjet 100 aircraft in Perm region. The goals that have been set are decent and ambitious enough. On behalf of the Board of Directors I would like to thank the management and all the members of Avialeasing’s team for their contribution to the work of the Company. Let me also express the hope that everyone of us will exert the utmost efforts to conquer the targeted peaks. Sergey A. Sopov President ANNUAL REPORT 2008 3 MESSAGE FROM THE GENERAL DIRECTOR Dear customers, partners and colleagues! The last year has become an important stage in the life of Avialeasing Company. Amid the global financial crisis the Company optimized its fleet having cut the number of aircraft down to seven and kept the youngest and most ecofriendly planes which underwent modernization and met the up-to-date safety requirements to be provided for passengers and environment. By consistently implementing the strategy of development the Company launched a number of projects in the segment of regional aircraft leasing. This activity resulted in signing the Heads of Agreement with Sukhoi Civil Aircraft Company for the delivery of 24 Sukhoi Superjet 100 planes with the option for 16 aircraft; the event occurred at Farnborough Airshow in July 2008. On the basis of the conducted research the Expert RA rating agency evaluated the operating results of the Company’s activity and awarded the reliability B+ rating (sufficient level of reliability) to Avialeasing. During the year 2008 Avialeasing Company further improved its relations with manufacturers and suppliers of aviation equipment, promoted its collaboration with financial institutions and invested in education of its employees to let them upgrade their professional skills and therefore the quality of services rendered. I would like to thank all the employees together for their conscientious work and every specialist personally for the contribution to the development of the Company. On behalf of the personnel of Avialeasing Company, let me express gratitude to our partners and clients for their confidence and support as well as my hopes for further mutually beneficial cooperation. We will be pleased to render assistance to all the potential customers, i.e. airlines, in raising the efficiency of their businesses by updating and expanding their carrying capacities. Oleg L. Kislukhin General Director 4 ANNUAL REPORT 2008 HIGHLIGHTS OF THE YEAR 2008 February In order to provide continuous operation of the aircraft owned by the Investment Financial Company ‘Avialeasing’ CJSC (hereinafter referred to as ‘Avialeasing’, ‘Avialeasing Company’ or ‘Company’) on the one hand and to develop business relationships with one of the leading Russian engine manufacturers – the Scientific Production Association ‘Saturn’, JSC (NPO Saturn) on the other hand there was made a long-term contract for the delivery and repair of D-30KU-154 aircraft engines. April There was held the annual General Meeting of Avialeasing Company shareholders. The Meeting approved of the Annual Report, Balance Sheet and Profit and Loss Statement for the year 2008 and took the decision to pay dividends due for the year 2007. The General Meeting elected the Company’s Board of Directors to comprise the same members. May Within the frames of the approved development program the Company launched a new business line devoted to the business aviation. The first negotiations were carried on with the business-jet operators as well as with the business-jet manufacturers such as Hawker Beechcraft. In pursuance of its plans to implement the projects in the segment of regional aircraft leasing the Company initiated cooperation with Embraer – the Brazilian manufacturer of the aircraft of the mentioned type. June The Company’s Board of Directors made a decision to establish the closed joint-stock company ‘Avialeasing – Regional Jet Express’ for the subsidiary to focus on selling business-jets in Russia as well as arranging charter transportation of VIP-clients by this type of aircraft. Thus the sphere of the Company’s interests additionally included Hawker 800/900, Gulfstream III/IV/IVSP, Bombardier Challenger 601/604 and Cessna Citation Sovereign. The share of corporate stock belonging to the Investment Financial Company ‘Avialeasing’, CJSC is 100 per cent. The location of the new enterprise is the city of Sochi. July At the British international airshow in Farnborough
Load more

Recommended publications
  • October 2007 Atlantic Battle Plans He Euro-Majors Are Starting to Make Some Big Moves in Antici- CONTENTS Tpation of Next Year's US-EU Open Skies Regime
    Aviation Strategy Issue No: 120 October 2007 Atlantic battle plans he Euro-majors are starting to make some big moves in antici- CONTENTS Tpation of next year's US-EU open skies regime. Air France has announced a comprehensive joint venture with Analysis Delta. Mirroring the long-established KLM/Northwest agreement, the two airlines will implement full revenue and cost sharing on all their services between their respective hubs (CDG, Orly and Lyons; Air France’s advance 1 Atlanta, JFK, Cincinnati and Salt Lake City), as well as the planned, from April next year, Heathrow operations. The aircraft leasing business: This is only the first phase. All the main SkyTeam members have applied for extended anti-trust immunity, the main effect being that • GECAS the AF/DL operation would combine with the KL/NW joint venture, • ILFC generating an estimated €20-30m net benefit for the Air France • Boeing Capital Corporation Group. • AerCap The assault on Fortress Heathrow has been launched with the • CIT transfer of three daily LHR slot pairs from Air France to Delta, • Babcock & Brown enabling the US carrier to fly double dailies to/from JFK plus a daily • Aviation Capital Group to Atlanta. Air France itself will operate from LHR to Los Angeles (and • RBS Aviation Capital from there connect to Tahiti, which is legally part of France). AF/KL • Pegasus Aviation has another 22 daily slots at LHR, though not all are suitable for transfer from short to long haul operations. Plus all of the other major How the passenger will benefit from all this consolidation is rather players and new entrants 2-13 unclear - unlike the KL/NW agreement which rationalised numerous thin O&D city-pairs by hubbing passengers over Amsterdam and Briefing Detroit, the AF/DL alliance focuses on cooperation on thick hub-to- hub routes, though it also should intensify competition on the very Lufthansa: Ready for lucrative LHR-JFK market.
    [Show full text]
  • Liste-Exploitants-Aeronefs.Pdf
    EN EN EN COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, XXX C(2009) XXX final COMMISSION REGULATION (EC) No xxx/2009 of on the list of aircraft operators which performed an aviation activity listed in Annex I to Directive 2003/87/EC on or after 1 January 2006 specifying the administering Member State for each aircraft operator (Text with EEA relevance) EN EN COMMISSION REGULATION (EC) No xxx/2009 of on the list of aircraft operators which performed an aviation activity listed in Annex I to Directive 2003/87/EC on or after 1 January 2006 specifying the administering Member State for each aircraft operator (Text with EEA relevance) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a system for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC1, and in particular Article 18a(3)(a) thereof, Whereas: (1) Directive 2003/87/EC, as amended by Directive 2008/101/EC2, includes aviation activities within the scheme for greenhouse gas emission allowance trading within the Community (hereinafter the "Community scheme"). (2) In order to reduce the administrative burden on aircraft operators, Directive 2003/87/EC provides for one Member State to be responsible for each aircraft operator. Article 18a(1) and (2) of Directive 2003/87/EC contains the provisions governing the assignment of each aircraft operator to its administering Member State. The list of aircraft operators and their administering Member States (hereinafter "the list") should ensure that each operator knows which Member State it will be regulated by and that Member States are clear on which operators they should regulate.
    [Show full text]
  • My Personal Callsign List This List Was Not Designed for Publication However Due to Several Requests I Have Decided to Make It Downloadable
    - www.egxwinfogroup.co.uk - The EGXWinfo Group of Twitter Accounts - @EGXWinfoGroup on Twitter - My Personal Callsign List This list was not designed for publication however due to several requests I have decided to make it downloadable. It is a mixture of listed callsigns and logged callsigns so some have numbers after the callsign as they were heard. Use CTL+F in Adobe Reader to search for your callsign Callsign ICAO/PRI IATA Unit Type Based Country Type ABG AAB W9 Abelag Aviation Belgium Civil ARMYAIR AAC Army Air Corps United Kingdom Civil AgustaWestland Lynx AH.9A/AW159 Wildcat ARMYAIR 200# AAC 2Regt | AAC AH.1 AAC Middle Wallop United Kingdom Military ARMYAIR 300# AAC 3Regt | AAC AgustaWestland AH-64 Apache AH.1 RAF Wattisham United Kingdom Military ARMYAIR 400# AAC 4Regt | AAC AgustaWestland AH-64 Apache AH.1 RAF Wattisham United Kingdom Military ARMYAIR 500# AAC 5Regt AAC/RAF Britten-Norman Islander/Defender JHCFS Aldergrove United Kingdom Military ARMYAIR 600# AAC 657Sqn | JSFAW | AAC Various RAF Odiham United Kingdom Military Ambassador AAD Mann Air Ltd United Kingdom Civil AIGLE AZUR AAF ZI Aigle Azur France Civil ATLANTIC AAG KI Air Atlantique United Kingdom Civil ATLANTIC AAG Atlantic Flight Training United Kingdom Civil ALOHA AAH KH Aloha Air Cargo United States Civil BOREALIS AAI Air Aurora United States Civil ALFA SUDAN AAJ Alfa Airlines Sudan Civil ALASKA ISLAND AAK Alaska Island Air United States Civil AMERICAN AAL AA American Airlines United States Civil AM CORP AAM Aviation Management Corporation United States Civil
    [Show full text]
  • Peculiarities of Development of the Low-Cost Airlines in Russian and Norwegian Context
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Brage Nord Open Research Archive Logistics and transport BE303E 003 Peculiarities of development of the low-cost airlines in Russian and Norwegian context by Elena Toramanyan Spring, 2007 Abstract E. Toramanyan, Master thesis ABSTRACT Low-cost flights per se become more and more popular in the world airline industry, while in Russia the first low-cost carrier has recently appeared. The purpose of this paper is to investigate the phenomenon of low-cost carriers, peculiarities of the development of the low-cost airlines in the context of Russian Federation and Norway. In order to cover the topic, deep literature review and qualitative research were carried out. In the paper, I attempted to follow history, analyze reasons for low-cost flights, advantages and disadvantages of low-cost carriers, scrutinize perspectives and peculiarities of the low-cost airline market in Russia and Norway, and analyze future opportunities. Under these circumstances, case study method and interviews as primary information sources and reports and articles written by airline experts as secondary sources were used. Two companies were under the research: Sky Express – a Russian low-cost airline company launched the market this year, and a Norwegian low-cost airline company, a member of European Low Fares Airline Association, Norwegian Air Shuttle. Deep literature review concerning low-cost airlines and empirical findings showed that the phenomenon of low fares has its peculiarities on a particular market. In order to understand the role of context regarding the research question, I tried to find similarities and to reveal differences in the activities of two companies with the help of PESTE analysis.
    [Show full text]
  • Description of the Yak-42
    Yakovlev Yak-42 Narrow-body Jet airliner / VIP transport The Yakovlev Yak-42 (Russian: Яковлев Як-42; NATO reporting name: Clobber) is a 100/120-seat three-engined mid- range passenger jet. It is the first airliner produced in the Soviet Union to be powered by modern high-bypass turbofan engines. Contents Yak-42 1. Design and development 2. Operational history Role Regional jet / VIP transport 2.1. Testing National origin Soviet Union 2.2. In service Manufacturer Saratov Aviation Plant 3. Variants First flight March 7, 1975 4. Operators Introduction December 22, 1980 5. Specifications (Yak-42D) Status In service 6. See also Primary users Izhavia KrasAvia Turukhan Airlines Produced 1979–2003 Number built 185 Design and development In 1972, the Yakovlev design bureau started work on a short- to medium-range airliner capable of carrying 100–120 passengers. It was intended to be a replacement for the Tupolev Tu-134 jet as well as the Ilyushin Il-18, Antonov An-24 and An-26 turboprop airliners. While the new airliner was required to operate out of relatively small airfields while T +7 (916) 650 47 07 – 3-Y Mar'inoy Roshchi Proyezd, 40с1 – 127018 Moscow – Russia – www.atcswiss.com maintaining good economy, as many Soviet airports had been upgraded to accommodate more advanced aircraft, it did not have to have the same ability to operate from grass strips as Yakovlev's smaller Yak-40. The requirement resulted in the largest, heaviest and most powerful aircraft designed by Yakovlev, until the even larger MC-21 took flight in 2017.
    [Show full text]
  • Ne U H E Ite N N E W P O S Tc a Rd S N O . 201 5 -1 a P Ril 2 0
    Alte Bergstrasse 14 8303 Bassersdorf Fax +41 44 836 88 19 Switzerland [email protected] Die Welt der Flugzeugpostkarten – The World of Aviation Postcards Super Neuheiten für Ihre Sammlung – Great New Postcards for your Collection Bestellen Sie von unseren neuen Sammler-Postkarten Aufnahmen der modernen Zivilluftfahrt aus aller Welt, z.B. neue Boeing 787-Betreiber wie Royal Jordanian und Xiamen Airlines sowie erste Aufnahmen der 787-900 von ANA, United, Virgin. Get some of our great new collector postcards 1 5 modern views from all over the world, e.g. new postcards of airlines flying the Boeing 787 - such as Royal Jordanian and Xiamen Airlines as well as first views of the 787-900 version of 5 ANA, United and Virgin. Nouvelles cartes postales 201 vues de l'aviation civile moderne, par ex. nouvelles éditions de la Boeing 787 de Royal Jordanian et Xiamen Airlines et les premières vues de la version 787-900 d'ANA, United et 201 Virgin. www.jjpostcards.com April No. Besuchen Sie unseren Webshop mit aktuell 27.531 Ansichtskarten aus der Luftfahrt Visit our new web shop with currently 27.531 aviation postcards on offer Visitez notre nouvelle boutique en ligne avec actuellement 27.531 cartes postales en stock ______________________ ______________________ ______________________ Neuheiten ______________________ New Postcards ______________________ www.jjpostcards.com jjPostcards - new postcard issues 2015-1 1 FLB - FlyingBooks D (151 x 105 mm) _AIR0741 BOA Boliviana de Aviación B.767 -33A(ER) CP -2881 pl Madrid, 2014 _AIR0742 China Airlines
    [Show full text]
  • Air Transport in Russia and Its Impact on the Economy
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Tomsk State University Repository Вестник Томского государственного университета. Экономика. 2019. № 48 МИРОВАЯ ЭКОНОМИКА UDC 330.5, 338.4 DOI: 10.17223/19988648/48/20 V.S. Chsherbakov, O.A. Gerasimov AIR TRANSPORT IN RUSSIA AND ITS IMPACT ON THE ECONOMY The study aims to collect and analyse statistics of Russian air transport, show the in- fluence of air transport on the national economy over the period from 2007 to 2016, compare the sector’s role in Russia with the one in other countries. The study reveals the significance of air transport for Russian economy by comparing airlines’ and air- ports’ monetary output to the gross domestic product. On the basis of the research, the policies in the aviation sector can be adjusted by government authorities. Ключевые слова: Russia, aviation, GDP, economic impact, air transport, statistics. Introduction According to Air Transport Action Group, the air transport industry supports 62.7 million jobs globally and aviation’s total global economic impact is $2.7 trillion (approximately 3.5% of the Gross World Product) [1]. Aviation transported 4 billion passengers in 2017, which is more than a half of world population, according to the International Civil Aviation Organization [2]. It makes the industry one of the most important ones in the world. It has a consid- erable effect on national economies by providing a huge number of employment opportunities both directly and indirectly in such spheres as tourism, retail, manufacturing, agriculture, and so on. Air transport is a driving force behind economic connection between different regions because it may entail economic, political, and social effects.
    [Show full text]
  • Attachment F – Participants in the Agreement
    Revenue Accounting Manual B16 ATTACHMENT F – PARTICIPANTS IN THE AGREEMENT 1. TABULATION OF PARTICIPANTS 0B 475 BLUE AIR AIRLINE MANAGEMENT SOLUTIONS S.R.L. 1A A79 AMADEUS IT GROUP SA 1B A76 SABRE ASIA PACIFIC PTE. LTD. 1G A73 Travelport International Operations Limited 1S A01 SABRE INC. 2D 54 EASTERN AIRLINES, LLC 2I 156 STAR UP S.A. 2I 681 21 AIR LLC 2J 226 AIR BURKINA 2K 547 AEROLINEAS GALAPAGOS S.A. AEROGAL 2T 212 TIMBIS AIR SERVICES 2V 554 AMTRAK 3B 383 Transportes Interilhas de Cabo Verde, Sociedade Unipessoal, SA 3E 122 MULTI-AERO, INC. DBA AIR CHOICE ONE 3J 535 Jubba Airways Limited 3K 375 JETSTAR ASIA AIRWAYS PTE LTD 3L 049 AIR ARABIA ABDU DHABI 3M 449 SILVER AIRWAYS CORP. 3S 875 CAIRE DBA AIR ANTILLES EXPRESS 3U 876 SICHUAN AIRLINES CO. LTD. 3V 756 TNT AIRWAYS S.A. 3X 435 PREMIER TRANS AIRE INC. 4B 184 BOUTIQUE AIR, INC. 4C 035 AEROVIAS DE INTEGRACION REGIONAL 4L 174 LINEAS AEREAS SURAMERICANAS S.A. 4M 469 LAN ARGENTINA S.A. 4N 287 AIR NORTH CHARTER AND TRAINING LTD. 4O 837 ABC AEROLINEAS S.A. DE C.V. 4S 644 SOLAR CARGO, C.A. 4U 051 GERMANWINGS GMBH 4X 805 MERCURY AIR CARGO, INC. 4Z 749 SA AIRLINK 5C 700 C.A.L. CARGO AIRLINES LTD. 5J 203 CEBU PACIFIC AIR 5N 316 JOINT-STOCK COMPANY NORDAVIA - REGIONAL AIRLINES 5O 558 ASL AIRLINES FRANCE 5T 518 CANADIAN NORTH INC. 5U 911 TRANSPORTES AEREOS GUATEMALTECOS S.A. 5X 406 UPS 5Y 369 ATLAS AIR, INC. 50 Standard Agreement For SIS Participation – B16 5Z 225 CEMAIR (PTY) LTD.
    [Show full text]
  • Skyteam Global Airline Alliance
    Annual Report 2005 2005 Aeroflot made rapid progress towards membership of the SkyTeam global airline alliance Aeroflot became the first Russian airline to pass the IATA (IOSA) operational safety audit Aeroflot annual report 2005 Contents KEY FIGURES > 3 CEO’S ADDRESS TO SHAREHOLDERS> 4 MAIN EVENTS IN 2005 > 6 IMPLEMENTING COMPANY STRATEGY: RESULTS IN 2005 AND PRIORITY TASKS FOR 2006 Strengthening market positions > 10 Creating conditions for long-term growth > 10 Guaranteeing a competitive product > 11 Raising operating efficiency > 11 Developing the personnel management system > 11 Tasks for 2006 > 11 AIR TRAFFIC MARKET Global air traffic market > 14 The passenger traffic market in Russia > 14 Russian airlines: main events in 2005 > 15 Market position of Aeroflot Group > 15 CORPORATE GOVERNANCE Governing bodies > 18 Financial and business control > 23 Information disclosure > 25 BUSINESS IN 2005 Safety > 28 Passenger traffic > 30 Cargo traffic > 35 Cooperation with other air companies > 38 Joining the SkyTeam alliance > 38 Construction of the new terminal complex, Sheremetyevo-3 > 40 Business of Aeroflot subsidiaries > 41 Aircraft fleet > 43 IT development > 44 Quality management > 45 RISK MANAGEMENT Sector risks > 48 Financial risks > 49 Insurance programs > 49 Flight safety risk management > 49 PERSONNEL AND SOCIAL RESPONSIBILITY Personnel > 52 Charity activities > 54 Environment > 55 SHAREHOLDERS AND INVESTORS Share capital > 58 Securities > 59 Dividend history > 61 Important events since December 31, 2005 > 61 FINANCIAL REPORT Statement
    [Show full text]
  • January 2001
    A VERY HAPPY AND PROSPEROUS 2001 TO ALL OUR READERS Aviation Strategy Issue No: 39 January 2001 GAO: no seasonal cheer for UAL/US CONTENTS Analysis s the Justice Department's antitrust review of the proposed UAL/US AAirways merger looked like entering the home stretch, on December 20 Competition report on US General Accounting Office (GAO) released a mostly negative report on United/US Airways merger 1-2 the competitive merits of the deal. What are GAO's views on the matter and how is the DoJ likely to rule? Indian privatisation: will The GAO report, titled "Issues related to the proposed United Airlines- US Airways merger", was requested by two members of Congress, James its potential be fulfilled? 3-5 Oberstar and Louise Slaughter, and carries political weight. However, its focus was naturally much narrower than that of the DoJ investigation, which BA in 2001 6 is currently anticipated to be concluded in January. The report did not examine in detail the impact of the proposed merger Review: The airline business on airline concentration at particular cities or effects on new market entry - subjects that the DoJ is interested in. Nor did it evaluate US Airways' long in the 21st century 6 term financial viability - something that United and US Airways hope that the DoJ will give some weight to. Briefings The GAO report, first, looked at how the merger would alter the US domestic industry using common measures of market strength. Second, it Russian airlines: assessed effects on consumers by analysing data in specific markets. the first alliance and Third, it compared DC Air's plans with the service scheduled by competi- other developments 7-10 tors by analysing frequencies and types of aircraft operated.
    [Show full text]
  • Annual Report 2007
    EU_ENTWURF_08:00_ENTWURF_01 01.04.2026 13:07 Uhr Seite 1 Analyses of the European air transport market Annual Report 2007 EUROPEAN COMMISSION EU_ENTWURF_08:00_ENTWURF_01 01.04.2026 13:07 Uhr Seite 2 Air Transport and Airport Research Annual analyses of the European air transport market Annual Report 2007 German Aerospace Center Deutsches Zentrum German Aerospace für Luft- und Raumfahrt e.V. Center in the Helmholtz-Association Air Transport and Airport Research December 2008 Linder Hoehe 51147 Cologne Germany Head: Prof. Dr. Johannes Reichmuth Authors: Erik Grunewald, Amir Ayazkhani, Dr. Peter Berster, Gregor Bischoff, Prof. Dr. Hansjochen Ehmer, Dr. Marc Gelhausen, Wolfgang Grimme, Michael Hepting, Hermann Keimel, Petra Kokus, Dr. Peter Meincke, Holger Pabst, Dr. Janina Scheelhaase web: http://www.dlr.de/fw Annual Report 2007 2008-12-02 Release: 2.2 Page 1 Annual analyses of the European air transport market Annual Report 2007 Document Control Information Responsible project manager: DG Energy and Transport Project task: Annual analyses of the European air transport market 2007 EC contract number: TREN/05/MD/S07.74176 Release: 2.2 Save date: 2008-12-02 Total pages: 222 Change Log Release Date Changed Pages or Chapters Comments 1.2 2008-06-20 Final Report 2.0 2008-10-10 chapters 1,2,3 Final Report - full year 2007 draft 2.1 2008-11-20 chapters 1,2,3,5 Final updated Report 2.2 2008-12-02 all Layout items Disclaimer and copyright: This report has been carried out for the Directorate-General for Energy and Transport in the European Commission and expresses the opinion of the organisation undertaking the contract TREN/05/MD/S07.74176.
    [Show full text]
  • Recognised Leadership
    ANNUAL REPORT 2013 RECOGNISED LEADERSHIP 1 Contents 1. 2. 4. 5. ABOUT THE COMPANY LETTERS TO CORPORATE RISK SHAREHOLDERS GOVERNANCE MANAGEMENT AND SECURITIES 5 22 81 109 1.1. Aeroflot Today ...............................................................................6 2.1. Letter from the Chairman of the Board of Directors................ 22 4.1. Corporate Governance ............................................................. 82 1.2. A Year of Confident Growth......................................................... 8 2.2. Letter from the Chief Executive Officer.................................... 24 Corporate Governance Principles ............................................ 82 1.3. Main Events in 2013................................................................... 10 Structure of Corporate Governance ......................................... 83 1.4. Aircraft Fleet and Route Network.............................................. 14 General Meeting of Shareholders ............................................ 83 1.5. Acclaim for the Company from Passengers and Professionals .20 Board of Directors ..................................................................... 83 Committees of the Board of Directors .....................................91 Executive Board ........................................................................ 93 3. Committees ............................................................................ 100 Internal Control and Audit ........................................................101 DESCRIPTION OF THE
    [Show full text]