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Annual Report 2019 02 02 Aerof T T Market Segments, from Premium C Airline Holding, Russia’S Largest O Growth on Capitalise to Market the Internationally

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Annual Report 2019 02 02 Aerof T T Market Segments, from Premium C Airline Holding, Russia’S Largest O Growth on Capitalise to Market the Internationally ГодовойAnnual Report отчет 20192019 WELCOME ON BOARD About the Report This Annual Report presents data on operations of Public Joint Stock Company Aeroflot – Russian Airlines (“PJSC Aeroflot”, “Aeroflot Contents airline”, or the “Company”) from 1 January 2019 through 31 December 2019. “Aeroflot Group” or the “Group” refers to PJSC Aeroflot and its controlled entities. Other ABOUT THE COMPANY CORPORATE GOVERNANCE subsidiaries 02 Aeroflot Group Today 169 Corporate Governance System The Annual Report is published every year in 04 Aeroflot Group Airlines 203 Risk Management the Russian and English languages. For easy 06 Key Highlights 214 Information for Shareholders navigation, the Annual Report is made available in 08 Investment Case and Investors electronic and interactive formats. The 2018 Annual ПАО JSC Aeromar 10 Passenger and Industry Recognition Report was published in May 2019. «Аэрофлот» 51% 12 Delivering on Our Strategy APPENDIXES 16 Pobeda: 5 years in the sky Other annual reports of the Company are available 223 IFRS Consolidated Financial Statements on its official website in the Shareholders STRATEGIC REPORT 293 Commercial and non-commercial and Investors section at ir.aeroflot.com/ entities in which PJSC Aeroflot holds shareholders-and-investors. 20 Message from the Chairman an interest of the Board of Directors 295 Major Transactions and Related-Party This Report discloses the Group’s financial 22 Message from the Chief Executive Transactions JSCПАО Sherotel Officer and operating results, the progress in strategy Aeroflot Group’s corporate structure 296 Report on Compliance with the «Аэрофлот» 24 Airline Industry Overview execution during reporting period and describes 100% Principles and Recommendations 30 Strategic Development of the Corporate Governance Code the Group’s corporate governance system. Airlines 42 Business model Approved by the Bank of Russia This Report has a particular focus on the Group’s 44 Long-Term Development Programme 313 Information About the Programme corporate social responsibility. and the KPI system for Disposal of Non-Core Assets 50 Operational Review 314 Energy consumption This Report has been prepared based on 50 Operating Results 316 Operating Data JSC PJSC Aeroflot’s management reports and in line Aeroflot 62 Fleet 320 GRI Content Index with PJSC Aeroflot’s consolidated IFRS financial RossiyaПАО Airlines ПАО 322 Glossary «Аэрофлот» «Аэрофлот»Aviation School 72 Network, Traffic Rights and Alliances statements for 2019. The sustainable development 75% – 88 Sales 324 Disclaimer on Forward-Looking 100% Statements section of the Report was prepared based on the 1 share 94 Customer Service Development 325 Contact Information GRI Sustainability Reporting Standards (GRI). 102 Information Technology and Innovation 113 Aircraft Maintenance and Repair PJSC Aeroflot’s consolidated IFRS financial 118 Flight Safety and Aviation Security statements for 2019 were audited by 122 Financial Review PricewaterhouseCoopers Audit. 134 Sustainable Development LLC ПАО PJSC ПАОLLC 135 Approach to Sustainable Development Pobeda Airlines ПАО Aeroflot-Finance In this Annual Report, unless otherwise stated, «Аэрофлот» «Аэрофлот» 138 Personnel «Аэрофлот»Aeroflot 99.99% performance figures pertain to PJSC Aeroflot and 100% 152 Social Initiatives its subsidiaries. Minor discrepancies in numbers 158 Ecology and Environmental Protection in the charts and tables subtotals of this Annual 165 Procurement Report are due to rounding. The scope and wordings of performance metrics in this Report do not have any material difference from previous reports. ПАОJSC ПАО Aurora Airlines «Аэрофлот» «Аэрофлот»LLC A-Technics 51% 100% PJSC Aeroflot’s Annual Report was approved by the Annual General Meeting of Shareholders on 27 July 2020 (Minutes No. 45 dated 28 July 2020). 2019 02 03 2019 Annual Report Aeroflot Group Annual Report Today 01 01 Aeroflot Group is an innovative Aeroflot Group’s Aeroflot is the airline holding, Russia’s largest % of flights 60.7 million business by key world’s most >340 359 86.7 41.3 thousand carrier and one of the leading Scheduled routes Modern aircraft Operated on-time Employees airline groups in Europe and Passengers carried segment powerful airline globally. brand The industry’s Aeroflot Group is active in key Premium Young fleet routes largest market segments, from premium Top 20 126 Operated by our low-cost carrier to budget air travel, providing Global airline group 5.0 years Aeroflot was named employer ABOUT THE COMPANY THE ABOUT passengers with a wide range of USD billion (including 71 unique routes COMPANY THE ABOUT Low-cost 2 .1 Average age as the world’s most punctual travelling options. Our priority is The combined value of for the Group) airline in the global On-Time improving accessibility to Russia of Aeroflot airline's fleet 02 02 Aeroflot Group’s brands and its regions. Aeroflot is one of Performance Review by Cirium Transport 03 the oldest airlines globally with Mid-market analytical group accessibility 03 a 96-year track record of delivering 6.9 years Aeroflot Group is a major 04 04 services for its passengers, which >210 Average age contributor to the accessibility is key to building a strong and Unique destinations (airports), of Aeroflot Group's fleet of Russian cities, facilitating well-recognised airline brand. Charter including 186 network carrier Aeroflot received the highest inter-country connections destinations five-star rating from OAG, leading The Group is strongly positioned in and making Russia better global travel data provider, the market to capitalise on growth connected with the world opportunities domestically and for flight punctuality internationally. PJSC Aeroflot PJSC Aeroflot 2019 04 05 2019 Annual Report Aeroflot Group Annual Report Airlines 01 01 ABOUT THE COMPANY THE ABOUT COMPANY THE ABOUT 02 02 03 Aeroflot Rossiya Pobeda Aurora 03 04 04 Aeroflot is Russia’s leading carrier and one of the Rossiya is one of Russia’s largest carriers and the Pobeda is the leading low-cost airline in Russia. Aurora is a regional carrier in the Russian Far East. oldest airlines in the world. Operates the youngest market leader in the North-West of the country. The airline is primarily based at Moscow Vnukovo The airline is based at Vladivostok, Yuzhno- fleet globally1. Aeroflot’s hub is Sheremetyevo airport Operates scheduled and charter flights. Based in airport. The company is also focused on increasing Sakhalinsk and Khabarovsk airports and operates in Moscow. Saint Petersburg, the company also operates flights flights from Saint Petersburg and Russian regions. flights between the key population centres in the from the Moscow air transport hub (Sheremetyevo Far East and Siberia, including local destinations, and Vnukovo airports). and flights on certain international routes. 37.2 million 245 11.6 million 61 10.3 million 30 1.7 million 23 Passengers carried Aircraft Passengers carried Aircraft Passengers carried Aircraft Passengers carried Aircraft 101.6 billion RPK 79.2 % 33.7 billion RPK 85.3 % 18.5 billion RPK 94.0 % 2.4 billion RPK 71.2 % Passenger turnover Passenger load factor Passenger turnover Passenger load factor Passenger turnover Passenger load factor Passenger turnover Passenger load factor 128.3 billion ASK 39.5 billion ASK 19.7 billion ASK 3.4 billion ASK Available seat-kilometres available seat-kilometres available seat-kilometres available seat-kilometres 160 23.2 89 7.1 126 1.8 45 2.3 Scheduled routes thousand Scheduled routes thousand Scheduled routes thousand Scheduled routes thousand 59 domestic Employees 48 domestic Employees 81 domestic Employees 32 domestic Employees 101 international 41 international 45 international 13 international PJSC Aeroflot PJSC Aeroflot 1. Among airlines with more than 100 aircraft. 2019 06 07 2019 Annual Report Key Highlights Annual Report 01 Operational Highlights Financial Highlights 1 01 Passenger traffic Passenger load factor Revenue EBITDA2 60.7 million PAX 81.9 % RUB 677.9 billion RUB 168.9 billion 2019 60.7 2019 81.9 2019 677.9 2019 168.9 9.0% (0.8) p. p. 10.8% 24.9% ABOUT THE COMPANY THE ABOUT COMPANY THE ABOUT 2018 55.7 2018 82.7 2018 611.6 2018 151.5 02 11.1% (0.1) p. p. 14.8% 24.8% 02 03 2017 50.1 2017 82.8 2017 532.9 2017 121.8 03 15.4% 1.4 p. p. 7.5% 22.9% 04 04 2016 43.4 2016 81.4 2016 495.9 2016 137.6 10.3% 3.1 p. p. 19.4% 27.7% 2015 39.4 2015 78.3 2015 415.2 2015 103.1 13.4% 0.5 p. p. 29.8% 24.8% Passenger traffic Growth rate Passenger load factor Change Revenue Growth rate EBITDA EBITDA margin Revenue per available seat-kilometre (RASK)4 Passenger turnover Available seat-kilometres Net profit / (loss)3 and cost per available seat-kilometre (CASK) 156.3 billion RPK 190.9 billion ASK RUB 13.5 billion RUB 3.55 / 3.23 2019 156.3 2019 190.9 2019 13.5 2019 3.55 9.2% 10.3% 3.23 2018 143.2 2018 173.1 2018 8.7 2018 3.53 9.9% 10.1% (55,7) 3.18 2017 130.2 2017 157.2 2017 23.1 2017 3.39 16.2% 14.2% 3.13 2016 112.1 2016 137.7 2016 38.8 2016 3.60 14.8% 10.4% 3.14 2015 97.6 2015 124.7 2015 (6.5) 2015 3.33 8.4% 7.7% 2.97 Passenger turnover Growth rate Available seat-kilometres Growth rate Net profit Adjusted net profit RASK CASK 1. The 2018–2019 financial results were published in accordance with 3. The 2015 loss includes a number of one-off effects including the IFRS 16 Leases standard. The 2015–2017 results were not restated RUB 16.8 billion cost of transporting Transaero passengers. The 2018 and published in accordance with IFRS (IAS) 17 Leases standard. adjusted net profit excludes non-cash revaluation related to operating 2.
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