MOSCOW, 8 SEPTEMBER 2015 – PJSC Aeroflot (Moscow Exchange ticker: AFLT) notes that Fitch as part of its annual review has lowered the Company’s long-term foreign-currency credit rating from BB– to B+ and placed it on Rating Watch Negative.
The rating change reflects negative trends in the Russian economy and the effect of the ruble’s depreciation on the transport market overall and Aeroflot’s debt load specifically.
Fitch’s decision also took into account the Company’s strengths, in particular its developed and diversified route network, successful hub development strategy, effective cost management and strong position on the Russian air transportation market.
Aeroflot is Russia’s flagship carrier and one of the largest airline groups in Europe. In 2014, Aeroflot carried 23.6 million passengers (34.7 million passengers as Aeroflot Group including subsidiaries), a record for any Russian airline. A proud member of the SkyTeam global airline alliance, Aeroflot and its partners serve 1,057 destinations in 179 countries worldwide. Aeroflot operates one of the youngest fleets in the world, numbering 163 Airbus, Boeing and Sukhoi airliners. Aeroflot is among the global leaders in aviation safety. The company’s European Community Safety Assessment of Foreign Aircraft (SAFA) Index, which is the main globally recognized safety parameter, is comparable to global peers. The first Russian carrier to enter the IATA Operational Safety Audit (IOSA) register, renewing its registration for the sixth time in 2015, Aeroflot has successfully passed the IATA Safety Audit for Ground Operations (ISAGO) and is fully ISO 9001:2008, ISO 14001:2004 compliant. In 2015 Aeroflot was named by SKYTRAX as the Best Airline in Eastern Europe for the fourth time. Find more at www.aeroflot.com.
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