Aeroflot receives National Corporate Governance Rating of 7++

24 December 2018

Moscow, 24 December 2018 – Aeroflot has received a National Corporate Governance Rating of 7++. This rating was assigned by the Russian Institute of Directors (RID) based on its monitoring of the Company, and it represents Advanced Corporate Management Practices according to the approved National Corporate Governance Rating scale.

This rating serves as confirmation that Russia’s flag carrier complies with Russian corporate governance legislation and that it follows the recommendations of the Russian corporate governance code. Aeroflot is characterized by relatively low corporate governance risks for its shareholders.

According to the RID, the rating clearly reflects Aeroflot’s ongoing efforts to improve its corporate governance and its aspiration to adopt best practices.

The RID highlighted a number of measures adopted by Aeroflot that helped the Company to improve its position in the rating:

  • in 2017, Aeroflot’s shareholders approved new editions of key corporate documents (Charter, Regulations on the General Meeting of Shareholders, Regulations on the Board of Directors and Regulations on the Management Board), which reflect many aspects of the Russian corporate governance code;
  • in December 2017, the company developed and introduced its own corporate governance code;
  • in December 2017, under the guidance of the Board of Directors, the Regulation on the Aeroflot Group risk management system was updated with the addition of a section on Corruption risk management;
  • in May 2018, Aeroflot’s Board of Directors carried out its first independent assessment of its activities using new methods;
  • the 2017 annual report complied with GRI Sustainability Reporting Standards.

RID also noted Aeroflot’s active shareholder engagement and transparency with regards to investor engagement.

Aeroflot aims to further improve its corporate governance rating. The Company is continuously implementing the roadmap on corporate governance practices that was approved by the Board of Directors.