Meeting with Aeroflot CEO Sergei Alexandrovsky

CEO and Chairman of the Management Board of Aeroflot - Russian Airlines Sergei Alexandrovsky: Mr President, I would like to report to you on Aeroflot Group's performance in 2024.

Aeroflot Group has made significant progress in achieving its financial and operational targets in 2024. We have carried 55 million passengers, up 17 percent compared to 2023. In 2023, we carried 47 million passengers. Our initial goal was to carry 50 million passengers in 2024, but due to better fleet serviceability and flight frequency, we were able to reach 55 million passengers.

President of Russia Vladimir Putin: 17 percent is a good growth number.

Sergei Alexandrovsky: Yes, this is our significant achievement due to the efforts of our entire team, the entire Aeroflot Group.

Vladimir Putin: Congratulations.

Sergei Alexandrovsky: Thank you, Mr President.

By developing domestic transport, we have also strengthened our position on the market and completed the year with a market share of 42 percent. That includes the participation of international carriers that fly to the Russian Federation.

As you are aware, the Aeroflot Group includes three airlines.

Vladimir Putin: Rossiya and Pobeda.

Sergei Alexandrovsky: Aeroflot itself, Pobeda and Rossiya, you are absolutely correct. We operated a fleet of 349 airplanes just as we did in 2023. In addition to our fleet, we took three additional aircraft under a wet lease agreement. These are the amendments to the Air Code that were implemented in 2024 with the support of Deputy Prime Minister Vitaly Savelyev and Transport Minister Roman Starovoit. We worked hard to amend the legislation, and we were the first to implement this deal on the Russian market.

We are now working on the next phase, and amendments are being made that would allow us to take aircraft from the international market under wet leasing agreements as well, which means additional fleet and, accordingly, better transport accessibility in the Russian Federation.

To be continued.