Moscow, 24 May 2021 — The Board of Directors of PJSC Aeroflot (Moscow Exchange ticker: AFLT) announces the results of a meeting of the Board of Directors held on 21 May 2021.
The Board of Directors took a decision to hold its Annual General Meeting of shareholders of PJSC Aeroflot (AGM) on 28 June 2021 with absentee voting. The list of individuals eligible to participate in AGM shall be determined as on the cut-off date of 3 June 2021.
The Board of Directors preliminary approved PJSC Aeroflot’s 2020 Annual Report and recommended that the AGM approves it. Due to the impact of the pandemic 2020 marked one of the worst years in the history of Russian and global aviation. In 2020, Aeroflot Group’s passenger traffic decreased by 50.3% versus 2019, load factor was 73.6%. Positive contribution was made by low-cost Pobeda Airlines, which carried 9.1 million passengers, rapidly recovering its capacity following flight resumption and posting year-end domestic passenger traffic increase of 5.7%. Financial results were under considerable pressure due to significant flight restrictions imposed amid the pandemic. Throughout the year Aeroflot Group focused on flight programme optimization, cost cutting and cash flow improvement initiatives. This year’s milestones included the approval of the Group’s updated Strategy up to 2028, changes in the Group’s management and structure, operational capabilities enhancement.
The following items of the agenda of the meeting were also reviewed:
Aeroflot Group’s IT development. In 2020, the Group continued to launch new projects and services for passengers, business and staff. COVID-19 pandemic- related restrictions on air travel prompted rapid roll-out of new technologies of non-monetary forms of air ticket refund, for instance, a voucher. Remote work regimen was provided for Aeroflot employees. Aeroflot is taking part in the pilot projects aimed at the development and introduction of IATA TravelPass and Travel without COVID-19 mobile applications. In 2021, IT development has been prioritizing online services improvement, digitization upgrade, drawing up IT transformation strategy in line with the Russian Federation Government’s instructions.
Deputy CEO for IT. It was decided to approve the appointment of Sergey Krylov as Deputy Chief Executive Officer for IT. He was head of Information Systems Department at Aeroflot from January 2017.
Other issues were reviewed as well: Operations financing; Ancillary revenues at Aeroflot Group; Remuneration of members of the Board of Directors and Revision Committe of PJSC Aeroflot; review of the conclusion of the Audit Committee of the Board of Directors of PJSC Aeroflot regarding the results of the 2020 financial year, and hearing of the conclusion of the Revision Committee.