In Aeroflot Board of Directors

05 May 2010

On June 2, 2005, at the regular meeting Aeroflot Board of Directors approved Aeroflot participation in managing enterprises established with participation of the Company. The Board of Directors supported the work of Aeroflot Board on forming a group of affiliate companies including freight, charter and regional ones as well as companies engaged in servicing air carriages and passengers.

The Board of Directors recommended the Company’s management to add the current internal legal base of managing affiliate companies with rules and procedures aimed at increasing responsibility of the airline company representatives in affiliates for efficiency and reasonability of the management decisions made.

The Board of Directors agreed Aeroflot leaving enterprises established with its participation which work is inefficient and the Company is not interested in it as regards to its activity and financial results, and it is not possible to affect its management.

There was taken into account the Company Board’s information about the final stage of coordinating the major actions on Aeroflot purchasing six Il 96-300 planes on leasing terms and about the procedure of the corporate approval of the deal.

The Board of Directors took into account information about Aeroflot preliminary operating results for the first quarter of 2005. The main operating results exceed indicators of the same period of the last year. At the same time the planned rate of increase of passenger carriages has not been achieved as a result of air fuel price rise, strengthening competition on the home and international markets of air carriages. The Company’s Board recommended introducing changes according to the current situation into the Airline Company’s strategy aimed at further development of Aeroflot.

According to the Russian law regulating joint stock companies’ activities - securities issuers there were considered and approved “Regulations on Aeroflot Corporate Information Policy” and “Regulations on Aeroflot Internal Audit”.

The Board of Directors decided to establish Aeroflot representative offices in Grozny and Khanty-Mansiysk.

Public Relations Department