Pre-approved
Supervisory Board
UTair Aviation JSC
(Minutes No. 10/08 dated May 22, 2009)
UTair Aviation
Annual report
UTair Aviation is one of the leading passenger carriers in Russia and one of the largest helicopter operators in the world. UTair operates in several market segments:
regular and charter passenger air transportation on the airline's aircraft;
helicopter operations in Russia and international markets (including contracts with the UN);
aviation services: airport activities, maintenance and repair, passenger flights service.
The segments of UTair's presence are well diversified, in each of them the company works with different categories of clients - individuals, oil and gas companies, international organizations. All this together gives the airline's business the necessary stability and creates a high potential for further development.
UTair Aviation today:
the largest operator of helicopter technology in the world.
is included in three leading Russian airlines in terms of the number of passengers carried on domestic routes.
valid member of the International Air Transport Association (IATA) .
the company's shares are traded on Russian and foreign stock markets.
* - according to the "Expert RA" agency.
1. Glossary 5 2. Key indicators 7 | |
3. Address to shareholders 8 | |
4. Main events of 2008 10 | |
5. Company 12 | |
5.1. Structure 13 | |
5.2. Strategy 17 | |
6. Analysis of performance results 19 | |
6.1. Passenger Transportation 19 | |
6.2. Helicopter work 25 | |
6.3. Aviation services 29 | |
6.4. Significant risks 34 | |
6.5. Financial results of the company 39 | |
7. Corporate governance 46 | |
7.1. Corporate governance system 46 | |
7.2. General Meeting of Shareholders 47 | |
7.3. Supervisory Board 47 | |
7.4. Supervisory Board Committees 50 | |
7.5. Governing body 51 | |
7.6. Reward 54 | |
7.7. External audit 54 | |
7.8. Internal control 55 | |
7.9. Information disclosure 58 | |
8. Share capital and dividend policy 58 | |
8.1. Structure of the share capital of UTair Aviation JSC 58 | |
8.2. UTair shares on the market 59 | |
8.3. Dividend policy 61 | |
9. Sustainable development 62 | |
9.1. Staff 62 | |
9.2. Safety and quality management 65 | |
9.3. Social responsibility 67 | |
9.4. Environmental Protection 69 | |
10. Contacts 71 | |
11. Appendices 72 | |
11.1. The list of major transactions and transactions in which there is an interest, concluded by UTair Aviation OJSC in 2008. 72 | |
11.2. Financial statements of UTair Aviation OJSC for 2008 72 | |
11.3. Information on the fleet of aircraft operated UTair Aviation JSC 76 | |
11.4. Information about the companies included in the UTair Group 79 | |
11.5. Information on branches and representative offices of UTair Aviation JSC 82 | |
11.6. Information on compliance with the Code of Corporate Conduct 83 |
1. Glossary
European Aviation Safety Agency. |
|
Helicopter Association International. |
|
International Air Transport Association. |
|
International Civil Aviation Organization. |
|
IATA Operational Safety Audit. |
|
Aircraft. |
|
Plaque performed | Actual flight hours on the aircraft. |
Passenger traffic performed | An indicator calculated by multiplying the actual number of commercial passengers carried at each stage of the flight by the length of the stage. |
Civil Aviation. |
|
UTair Group, Group, Company, UTair Aviation, Airline, UTair, UTair Group Society | Open Joint Stock Company UTair Aviation, its subsidiaries (dependent) and other affiliated legal entities, except when otherwise follows from the context. |
Fuels and lubricants. |
|
Subsidiaries and affiliates of UTair Aviation JSC. |
|
The ratio of the number of tonne-kilometers performed to the limit tonne-kilometers as a percentage. |
|
MICEX | Closed Joint Stock Company Moscow Interbank Currency Exchange. |
IFRS | International Financial Reporting Standards (IFRS). |
UTair Aviation OJSC, Company | Open Joint Stock Company UTair Aviation. |
Maximum permissible emissions. |
|
Maximum allowable discharges. |
|
Pkm (passenger kilometer) | Carriage of 1 passenger over a distance of 1 km. |
Maximum passenger turnover | An indicator calculated by multiplying the number of passenger seats at each stage of the flight by the length of the stage. |
Limit tonkilometer | An indicator calculated by multiplying the amount of available commercial load (passengers, cargo and mail) at each stage of the flight by the length of the stage. |
Reduced plaque | The raid, reduced to the An-2 aircraft, in accordance with the coefficients. This indicator to the greatest extent characterizes the efficiency of the aircraft. |
Labor productivity | The ratio of revenue to the average number of employees. |
RAS | Russian Accounting Standards. |
Open Joint Stock Company “Stock Exchange“ Russian Trading System ”. |
|
SanPiN | Sanitary rules and regulations. |
Tkm (tonne-kilometer) | Transportation of 1 ton of commercial load (passengers at the rate of 90 kg per 1 passenger, cargo, mail) over a distance of 1 km. |
Closed Joint Stock Company "Transport Clearing House". |
|
MRO | Maintenance and repair. |
FAVT | Federal Air Transport Agency. |
FSNST | Federal Service for Supervision of Transport. |
Abbreviation for metric and currency units
U.S. dollar |
|
kilogram |
|
kilometer |
|
meter |
|
million |
|
billion |
|
Russian ruble |
|
ton |
|
thousand |
2. Key indicators
Financial performance
Change 2007/2008 |
||||
Asset value (average annual value), thousand rubles |
3. Address to shareholders
Dear Colleagues,
Last year, UTair Aviation and the aviation industry as a whole had to work in the most difficult economic conditions, formed by the explosive rise in energy prices, and then the onset of the financial and economic crisis. Nevertheless, we were able to practically fully implement the plans outlined for 2008. First of all, in such vital areas as improving the airline's structure, updating the aircraft fleet, developing new aviation markets in Russia and abroad. The successfully implemented strategy for the development of the route network and the expansion of the geography of flights have borne fruit - in 2008 we carried 3.225 million passengers, which is 12.2% more than in 2007, and increased the flight time on helicopters by 7.3%. Despite the constant growth of costs in the industry, we managed to make a profit at the end of the year and achieve a relative growth in financial indicators in our main areas of activity. In 2008, the revenue of UTair Aviation JSC amounted to 32,994,476 thousand rubles. The company's net profit in the reporting year amounted to RUB 75,822 thousand.
One of the most significant events for the airline was joining the International Air Transport Association (IATA) in 2008. Having successfully passed the IOSA operational safety audit procedure, UTair, among the world's leading airlines, has confirmed its status as a carrier that meets the high requirements of international safety standards.
The serious recession in the global aviation business, which began in the IV quarter of 2008, continued this year. According to IATA, losses for the global industry in 2008 amounted to 8.5 billion dollars, while the forecast of losses for 2009, originally estimated at 2.5 billion dollars, was revised to 4.7 billion dollars in March. The Russian civil aviation industry was one of the first to feel the negative impact of the crisis, although in general it showed an upward trend at the end of the year - the passenger traffic of Russian airlines in 2008 increased by 10.4%. As a result of the impact of unfavorable economic factors in the past year, several airlines were forced to declare themselves bankrupt and leave the market, failing to fulfill their obligations to passengers and partners.
Competent financial and management policy allowed UTair to cope with the negative impact of the crisis and to preserve the company's staff, its assets and priority areas of activity. To a large extent, this was achieved due to a multidisciplinary business structure, in which various types of activities complement each other, depending on the market situation. At the same time, we timely implemented a number of anti-crisis resource-saving measures. Significant cost savings have been achieved through the active transition to more efficient aircraft types on domestic routes. Optimizing the route network reduced inefficient routes and focused on the most profitable routes. After the bankruptcy of a number of airlines, UTair was able to use the existing market situation and occupy the vacant niches. In particular, such popular directions as Moscow - Krasnoyarsk, Omsk, Barnaul, Perm and Baku were opened.
In February 2008, within the framework of the program of modernization of the passenger aircraft fleet, UTair launched the operation of the Boeing 737-500 airliner. This made it possible to optimize the structure of the fleet of medium-range aircraft in accordance with the development strategy, reduce fuel costs, expand the geography of flights and increase the volume of traffic. In 2008, the number of Boeing 737-500 aircraft in the UTair fleet reached six, and by the end of 2009 it should be at least 15 units. We also continued to replenish our fleet with regional ATR-42 and ATR-72 aircraft of European production, the number of which in 2008 reached 15. All this undoubtedly gives us the opportunity to compete even more successfully in the passenger air transportation market.
The past year marked the beginning of a promising and fruitful partnership with the world's largest air carrier Lufthansa and in general with the global airline alliance Star Alliance. In November, UTair and Deutsche Lufthansa AG signed a commercial cooperation agreement. Thanks to the interline agreement with the leading European airline, UTair has significantly expanded its competitive advantages: the airline's passengers were able to purchase a single ticket for a flight through the airports of Moscow, St. Petersburg, Samara, Ufa, Nizhny Novgorod and Yekaterinburg to Frankfurt, Munich, Berlin, Dusseldorf and further to more than 100 countries of the world at special favorable rates.
The most important component of UTair's ongoing efforts to strengthen and develop its positions in the global and Russian helicopter markets is the improvement of its rotorcraft fleet. Last year, the largest contract was signed with OJSC Ulan-Ude Aviation Plant for the supply during 2008-2010. 20 new Mi-171 helicopters with an option for 20 more aircraft. The first batch of Mi-171s entered the airline in October 2008. The company's fleet was also replenished with two Eurocopter AS 350B3 helicopters purchased within the framework of UTair's Light Multi-Purpose Helicopter project. The company has been successfully operating helicopters Eurocopter AS 355N and VO-105 since 2006. Their advantages are highly appreciated by customers: light helicopters transport VIP clients, patrol oil and gas pipelines, take photos and videos, deliver goods on an external sling, and also perform medical flights. The AS 350B3 helicopters that have expanded to the company's fleet are mainly involved in geological exploration and geophysics.
In Houston (USA), during the largest international exhibition HELI-EXPO 2008, a firm agreement was signed between UTair Aviation and Eurocopter for the supply of new EC 175 helicopters designed to carry 16 passengers. UTair received the status of a launch customer for this program. Starting in 2012, the airline will receive 15 helicopters with an option for 15 more aircraft. UTair and Eurocopter also announced their intention to implement a large-scale joint project to create an integrated maintenance and operation center for Eurocopter helicopters in Russia. The project envisages the opening of a certified maintenance center for Eurocopter helicopters at UTair's production facilities, as well as the organization of a training center for flight crews for servicing and operating Eurocopter rotorcraft.
The geography of flights has been expanded and the volume of helicopter operations under commercial contracts has been increased. Subsidiary UTair in Europe in 2008 performed complex construction and installation work in Poland, Slovakia, Bulgaria, Serbia, Montenegro, Bosnia and Herzegovina. On the territory of Northern and Western Canada, using a Mi-26 helicopter, aviation operations, unique for the North American market, were carried out to deliver heavy oversized cargo to the places of development and development of oil and gas fields. South African subsidiary UTair resumed firefighting work in South Africa.
The past year has become another test of strength for the airline. We did it. And we did it well. On behalf of the Management Board of UTair Aviation I would like to express my sincere gratitude and appreciation to the entire workforce of the company. Thanks to the investors and shareholders, whose trust helps us meet the market demands and keep the bar high in ensuring flight safety and providing quality services.
I would like to note that the challenges that 2009 is preparing for us will require from us full commitment to the work we love and high professionalism in everything. I am confident that the foundation that we have laid in previous years will allow us not only to withstand the crisis, but also to get out of it even stronger and more successful.
/signature/
Andrey Martirosov
General Director - Chairman of the Management Board of UTair Aviation JSC
performed ... Document
Organizations Position from to 2008 2009 JSC " Airline "UTair " Deputy General Director - ... confirmation of the accuracy of the data included in annualreports society, annual accounting statements, reports profit and loss statement (accounts ...
Full name: JSC "AIRLINE" RUSSIA "
INN: 7810814522
Type of activity (according to OKVED): 51.10.1 - Transportation by air passenger transport, obeying the schedule
Form of ownership: 42 - Mixed Russian ownership with a share of ownership of the constituent entities of the Russian Federation
Organizational and legal form: 12267 - Non-public joint stock companies
Reporting is compiled in thousand rubles
See detailed counterparty verification
Financial statements for 2011-2017
1. Balance sheet
| Indicator name | Code | # DATE # |
|---|---|---|
| ASSETS | ||
| I. NON-CURRENT ASSETS | ||
| Intangible assets | 1110 | #1110# |
| Research and development results | 1120 | #1120# |
| Intangible search assets | 1130 | #1130# |
| Tangible search assets | 1140 | #1140# |
| Fixed assets | 1150 | #1150# |
| Profitable investments in material assets | 1160 | #1160# |
| Financial investments | 1170 | #1170# |
| Deferred tax assets | 1180 | #1180# |
| Other noncurrent assets | 1190 | #1190# |
| Total for Section I | 1100 | #1100# |
| II. CURRENT ASSETS | ||
| Stocks | 1210 | #1210# |
| Value added tax on acquired assets | 1220 | #1220# |
| Receivables | 1230 | #1230# |
| Financial investments (excluding cash equivalents) | 1240 | #1240# |
| Cash and cash equivalents | 1250 | #1250# |
| Other current assets | 1260 | #1260# |
| Total for Section II | 1200 | #1200# |
| BALANCE | 1600 | #1600# |
| PASSIVE | ||
| III. CAPITAL AND RESERVES | ||
| Authorized capital (share capital, authorized capital, partners' contributions) | 1310 | #1310# |
| Own shares repurchased from shareholders | 1320 | #1320# |
| Revaluation of non-current assets | 1340 | #1340# |
| Additional capital (without revaluation) | 1350 | #1350# |
| Reserve capital | 1360 | #1360# |
| Retained earnings (uncovered loss) | 1370 | #1370# |
| Total for Section III | 1300 | #1300# |
| IV. LONG TERM DUTIES | ||
| Borrowed funds | 1410 | #1410# |
| Deferred tax liabilities | 1420 | #1420# |
| Estimated liabilities | 1430 | #1430# |
| Other liabilities | 1450 | #1450# |
| Total for Section IV | 1400 | #1400# |
| V. SHORT-TERM OBLIGATIONS | ||
| Borrowed funds | 1510 | #1510# |
| Accounts payable | 1520 | #1520# |
| revenue of the future periods | 1530 | #1530# |
| Estimated liabilities | 1540 | #1540# |
| Other liabilities | 1550 | #1550# |
| Total for Section V | 1500 | #1500# |
| BALANCE | 1700 | #1700# |
Brief balance sheet analysis
Graph of changes in non-current assets, total assets and capital and reserves by years
| Financial indicator | 31.12.2011 | 31.12.2012 | 31.12.2013 | 31.12.2014 | 31.12.2015 | 31.12.2016 | 31.12.2017 |
|---|---|---|---|---|---|---|---|
| Net assets | 3856635 | -1052225 | -498288 | 617300 | 1696957 | 6051125 | |
| Autonomy coefficient (norm: 0.5 and more) | -0.04 | -0.21 | -0.13 | -0.04 | 0.04 | 0.07 | 0.19 |
| Current liquidity ratio (norm: 1.5-2 and above) | 0.3 | 0.6 | 0.5 | 0.5 | 0.6 | 0.7 | 1 |
2. Profit and loss statement
| Indicator name | Code | # PERIOD # |
|---|---|---|
| Revenue | 2110 | #2110# |
| Cost of sales | 2120 | #2120# |
| Gross profit (loss) | 2100 | #2100# |
| Business expenses | 2210 | #2210# |
| Administrative expenses | 2220 | #2220# |
| Profit (loss) from sales | 2200 | #2200# |
| Income from participation in other organizations | 2310 | #2310# |
| Interest receivable | 2320 | #2320# |
| Percentage to be paid | 2330 | #2330# |
| Other income | 2340 | #2340# |
| other expenses | 2350 | #2350# |
| Profit (loss) before tax | 2300 | #2300# |
| Current income tax | 2410 | #2410# |
| incl. permanent tax liabilities (assets) | 2421 | #2421# |
| Change in deferred tax liabilities | 2430 | #2430# |
| Change in deferred tax assets | 2450 | #2450# |
| Other | 2460 | #2460# |
| Net income (loss) | 2400 | #2400# |
| REFERENCE | ||
| Result from revaluation of non-current assets, not included in the net profit (loss) of the period | 2510 | #2510# |
| Result from other operations not included in the net profit (loss) of the period | 2520 | #2520# |
| Aggregate financial result of the period | 2500 | #2500# |
Brief analysis of financial results
Graph of changes in revenue and net profit by years
| Financial indicator | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|---|---|
| EBIT | -756904 | 1259375 | 842249 | 1829255 | 1943355 | 5841859 |
| Return on sales (profit from sales in each ruble of revenue) | -2.2% | 1% | 0.4% | 1.5% | 3.9% | -0.9% |
| Return on Equity (ROE) | 86% | -33% | -33% | -4296% | 88% | 119% |
| Return on assets (ROA) | -9.2% | 5.4% | 2.6% | 7.1% | 5.3% | 17.1% |
4. Cash flow statement
| Indicator name | Code | # PERIOD # |
|---|---|---|
| Cash flows from current operations | ||
| Income - total | 4110 | #4110# |
| including: from the sale of products, goods, works and services |
4111 | #4111# |
| lease payments, royalties, royalties, commissions and other similar payments | 4112 | #4112# |
| from the resale of financial investments | 4113 | #4113# |
| other supply | 4119 | #4119# |
| Payments - total | 4120 | #4120# |
| including: to suppliers (contractors) for raw materials, materials, work, services |
4121 | #4121# |
| in connection with the remuneration of employees | 4122 | #4122# |
| interest on debt obligations | 4123 | #4123# |
| corporate income tax | 4124 | #4124# |
| other payments | 4129 | #4129# |
| Balance of cash flows from current operations | 4100 | #4100# |
| Cash flows from investment operations | ||
| Income - total | 4210 | #4210# |
| including: from the sale of non-current assets (except for financial investments) |
4211 | #4211# |
| from the sale of shares of other organizations (participation interests) | 4212 | #4212# |
| from the return of loans provided, from the sale of debt securities (rights to claim funds against other persons) | 4213 | #4213# |
| dividends, interest on debt financial investments and similar receipts from equity participation in other organizations | 4214 | #4214# |
| other supply | 4219 | #4219# |
| Payments - total | 4220 | #4220# |
| including: in connection with the acquisition, creation, modernization, reconstruction and preparation for the use of non-current assets |
4221 | #4221# |
| in connection with the acquisition of shares of other organizations (participation interests) | 4222 | #4222# |
| in connection with the acquisition of debt securities (rights to claim funds against other persons), the provision of loans to other persons | 4223 | #4223# |
| interest on debt liabilities included in the cost of an investment asset | 4224 | #4224# |
| other payments | 4229 | #4229# |
| Balance of cash flows from investment operations | 4200 | #4200# |
| Cash flows from financial transactions | ||
| Income - total | 4310 | #4310# |
| including: obtaining credits and loans |
4311 | #4311# |
| monetary contributions of owners (participants) | 4312 | #4312# |
| from the issue of shares, an increase in participation interests | 4313 | #4313# |
| from the issue of bonds, bills and other debt securities, etc. | 4314 | #4314# |
| other supply | 4319 | #4319# |
| Payments - total | 4320 | #4320# |
| including: to the owners (participants) in connection with the redemption of shares (participation interests) of the organization from them or their withdrawal from the list of participants |
4321 | #4321# |
| to pay dividends and other payments | 4322 | #4322# |
| on the distribution of profits in favor of the owners (participants) in connection with the redemption (redemption) of bills of exchange and other debt securities, the return of loans and borrowings | 4323 | #4323# |
| other payments | 4329 | #4329# |
| Balance of cash flows from financial transactions | 4300 | #4300# |
| Balance of cash flows for the reporting period | 4400 | #4400# |
| Balance of cash and cash equivalents at the beginning of the reporting period | 4450 | #4450# |
| Balance of cash and cash equivalents at the end of the reporting period | 4500 | #4500# |
| The magnitude of the impact of changes in the exchange rate of foreign currency in relation to the ruble | 4490 | #4490# |
6. Report on the intended use of funds
| Indicator name | Code | # PERIOD # |
|---|---|---|
| Remaining funds at the beginning of the reporting year | 6100 | #6100# |
| Funds received | ||
| Entry fees | 6210 | #6210# |
| Membership fee | 6215 | #6215# |
| Targeted contributions | 6220 | #6220# |
| Voluntary property contributions and donations | 6230 | #6230# |
| Profit from the organization's income-generating activities | 6240 | #6240# |
| Other | 6250 | #6250# |
| Total funds received | 6200 | #6200# |
| Funds used | ||
| Spending on targeted activities | 6310 | #6310# |
| including: | ||
| social and charitable assistance | 6311 | #6311# |
| holding conferences, meetings, seminars, etc. | 6312 | #6312# |
| other events | 6313 | #6313# |
| Management costs | 6320 | #6320# |
| including: | ||
| expenses related to labor remuneration (including accruals) | 6321 | #6321# |
| non-wage payments | 6322 | #6322# |
| business travel and business travel expenses | 6323 | #6323# |
| maintenance of premises, buildings, motor vehicles and other property (except for repairs) | 6324 | #6324# |
| repair of fixed assets and other property | 6325 | #6325# |
| others | 6326 | #6326# |
| Purchase of fixed assets, inventory and other property | 6330 | #6330# |
| Other | 6350 | #6350# |
| Total funds used | 6300 | #6300# |
| Balance at the end of the reporting year | 6400 | #6400# |
2017 2016 2015 2012
No data for this period
| Indicator name | Code | Authorized capital | Own shares, redeemed from shareholders |
Extra capital | Reserve capital | Undestributed profits (uncovered loss) |
Total |
|---|---|---|---|---|---|---|---|
| The amount of capital on | 3200 | ||||||
| Per Capital increase - total: |
3310 | ||||||
| including: net profit |
3311 | NS | NS | NS | NS | ||
| revaluation of property | 3312 | NS | NS | NS | |||
| income attributable directly to capital increases | 3313 | NS | NS | NS | |||
| additional issue of shares | 3314 | NS | NS | ||||
| increase in the par value of shares | 3315 | NS | NS | ||||
| 3316 | |||||||
| Decrease in capital - total: | 3320 | ||||||
| including: lesion |
3321 | NS | NS | NS | NS | ||
| revaluation of property | 3322 | NS | NS | NS | |||
| expenses directly attributable to capital deductions | 3323 | NS | NS | NS | |||
| reduction in the par value of shares | 3324 | NS | |||||
| decrease in the number of shares | 3325 | NS | |||||
| reorganization of a legal entity | 3326 | ||||||
| dividends | 3327 | NS | NS | NS | NS | ||
| Change in additional capital | 3330 | NS | NS | NS | |||
| Change in capital reserve | 3340 | NS | NS | NS | NS | ||
| The amount of capital on | 3300 |
Additional checks
Check counterparty Download data for financial analysis
* The asterisk marks the indicators that have been corrected in comparison with the Rosstat data. The correction is necessary in order to eliminate obvious formal inconsistencies in reporting indicators (discrepancy between the sum of lines and the total value, typos) and is carried out according to an algorithm specially developed by us.
Reference: The financial statements are presented according to Rosstat data disclosed in accordance with the legislation of the Russian Federation. The accuracy of the given data depends on the accuracy of data submission to Rosstat and the processing of these data by the statistical department. When using this reporting, we strongly recommend checking the figures with the data of the paper (electronic) copy of the reporting posted on the official website of the organization or received from the organization itself. The financial analysis of the presented data is not part of the Rosstat information and is carried out using a specialized
Pre-approved
Supervisory Board
UTair
(Minutes No. 10/08 dated 01.01.2001)
UTair Aviation
Annual report
UTair Aviation is one of the leading passenger carriers in Russia and one of the largest helicopter operators in the world. UTair operates in several market segments:
o passenger regular and charter air transportation on the airline's aircraft;
o helicopter operations in Russia and international markets (including contracts with the UN);
o aviation services: airport activities, maintenance and repair, passenger flights service.
The segments of UTair's presence are well diversified, in each of them the company works with different categories of clients - individuals, oil and gas companies, international organizations. All this together gives the airline's business the necessary stability and creates a high potential for further development.
UTair Aviation today:
· the largest operator of helicopter technology in the world.
Included in three leading Russian airlines in terms of the number of passengers carried on domestic routes.
Valid member of the International Air Transport Association (IATA) .
· The company's shares are traded on Russian and foreign stock markets.
· Takes 166 place in the Rating of 400 largest companies in Russia by sales volume and 139 place in the list of the largest companies in Russia by market value (capitalization). *
IFRS
International Financial Reporting Standards (IFRS).
UTair, Society
Open Joint Stock Company UTair Aviation.
Maximum permissible emissions.
Maximum allowable discharges.
Pkm (passenger kilometer)
Carriage of 1 passenger over a distance of 1 km.
Maximum passenger turnover
An indicator calculated by multiplying the number of passenger seats at each stage of the flight by the length of the stage.
Limit tonkilometer
An indicator calculated by multiplying the amount of available commercial load (passengers, cargo and mail) at each stage of the flight by the length of the stage.
Reduced plaque
The raid, reduced to the An-2 aircraft, in accordance with the coefficients. This indicator to the greatest extent characterizes the efficiency of the aircraft.
Labor productivity
The ratio of revenue to the average number of employees.
RAS
Open Joint Stock Company “Stock Exchange“ Russian Trading System ”.
SanPiN
Sanitary rules and regulations.
Tkm (tonne-kilometer)
Transportation of 1 ton of commercial load (passengers at the rate of 90 kg per 1 passenger, cargo, mail) over a distance of 1 km.
Closed Joint Stock Company "Transport Clearing House".
MRO
Maintenance and repair.
FAVT
Federal Air Transport Agency.
FSNST
Federal Service for Supervision of Transport.
2. Key indicators
Note: 2008 production figures for passenger traffic include Mi-8 and AN-2 flights.
Financial performance
|
|
3. Address to shareholders
Last year, UTair Aviation and the aviation industry as a whole had to work in the most difficult economic conditions, formed by the explosive rise in energy prices, and then the onset of the financial and economic crisis. Nevertheless, we were able to practically fully implement the plans outlined for 2008. First of all, in such vital areas as improving the airline's structure, updating the aircraft fleet, developing new aviation markets in Russia and abroad. The successfully implemented strategy for the development of the route network and the expansion of the geography of flights have borne fruit - in 2008 we carried 3.225 million passengers, which is 12.2% more than in 2007, and increased the flight time on helicopters by 7.3%. Despite the constant growth of costs in the industry, we managed to make a profit at the end of the year and achieve a relative growth in financial indicators in our main areas of activity. In 2008, UTair's revenue amounted to thous. rub. The company's net profit in the reporting year amounted to thous. rub.
One of the most significant events for the airline was joining the International Air Transport Association (IATA) in 2008. Having successfully passed the IOSA operational safety audit procedure, UTair, among the world's leading airlines, has confirmed its status as a carrier that meets the high requirements of international safety standards.
The serious recession in the global aviation business, which began in the IV quarter of 2008, continued this year. According to IATA, losses to the global industry in 2008 amounted to $ 8.5 billion, while the forecast for losses for 2009, originally estimated at $ 2.5 billion, was revised to $ 4.7 billion in March. The Russian civil aviation industry was one of the first to feel the negative impact of the crisis, although in general it showed an upward trend at the end of the year - the passenger traffic of Russian airlines in 2008 increased by 10.4%. As a result of the impact of unfavorable economic factors in the past year, several airlines were forced to declare themselves bankrupt and leave the market, failing to fulfill their obligations to passengers and partners.
Competent financial and management policy allowed UTair to cope with the negative impact of the crisis and to preserve the company's staff, its assets and priority areas of activity. To a large extent, this was achieved due to a multidisciplinary business structure, in which various types of activities complement each other, depending on the market situation. At the same time, we timely implemented a number of anti-crisis resource-saving measures. Significant cost savings have been achieved through the active transition to more efficient aircraft types on domestic routes. Optimizing the route network reduced inefficient routes and focused on the most profitable routes. After the bankruptcy of a number of airlines, UTair was able to use the existing market situation and occupy the vacant niches. In particular, such popular directions as Moscow - Krasnoyarsk, Omsk, Barnaul, Perm and Baku were opened.
· Helicopter operations in Russia and abroad;
· Airport activities;
Services for:
· Repair and maintenance of aviation equipment;
· Providing passengers with onboard meals (catering);
· Training of aviation personnel.
At the end of 2008, UTair's aircraft fleet consisted of 135 aircraft and 200 helicopters.
Last year UTair became a full member of the International Air Transport Association (IATA). IATA acts as a coordinator and representative of the interests of the air transport industry in such areas as flight safety, flight operations, tariff policy, aviation security, development of international standards in conjunction with the International Civil Aviation Organization (ICAO).
UTair Aviation takes an active part in the activities of the Russian Association of Air Transport Operators (AEVT): UTair CEO Andrei Martirosov is Chairman of the Management Board of UTair, and the airline's key executives work on the main committees of the association.
The segments of the Russian and international air transportation market in which UTair operates are characterized by stability and high development potential.
o Medium-haul passenger transportation is carried out mainly from regional centers and large cities with a high level of economic development, such as Moscow, St. Petersburg, Novosibirsk, Yekaterinburg, Samara, Ufa, Khanty-Mansiysk, Tyumen.
o The development of regional transportation is carried out in cooperation with the authorities of the constituent entities of the Russian Federation interested in supporting and developing socially significant transportation.
o Helicopter operations in Russia are carried out mainly in the interests of large oil and gas producing companies, which ensures stability and predictability of development in this area.
o Activities in international markets are carried out both within the framework of participation in the programs of international organizations, primarily the UN, and on the basis of direct commercial contracts, in particular, with the South African Forest Fire Fighting Association, Airborne Energy Solutions (Canada), the Government of Canada.
In its main areas of activity, UTair holds a leading position in the industry, and the receipt of revenue from several independent segments provides the airline with high stability in the face of increasing competition and market volatility.
5.1. Structure
Organizational structure of UTair Group: *
The corporate center of the group provides operational and financial control over the activities of enterprises and organizations that are part of the group structure by:
· Fixing the following management system in the statutory documents of subsidiaries and dependent companies: general meeting of shareholders / participants - Board of directors / Supervisory board - sole executive body;
· Restrictions on the powers of the sole executive body to conclude major transactions;
· Election of UTair representatives to the management and control bodies of subsidiaries and affiliates;
· Introduction of unified business planning processes and a unified format for quarterly and annual reporting;
· Participation of UTair's key managers in the work of the management bodies of subsidiaries and affiliates (directives are developed for voting on key issues on the agenda of general meetings of shareholders / meetings of the Board of Directors).
Passenger Transportation
UTair is one of the five leaders of Russian air carriers in terms of the number of passengers carried on domestic and international routes. The airline occupies a leading position in the country in terms of the number of flights: UTair aircraft daily perform about 180 regular passenger flights to more than 100 destinations. The company forms its schedule taking into account the maximum use of the transit potential of passenger traffic, organizing a large number of connections between flights. UTair is restoring interregional air transport links and distributing passenger traffic not only through Moscow, but also through large regional airports.
The priority directions of the airline's activities in the field of passenger transportation are maintaining a high level of flight safety, developing the route network, optimizing the fleet of short-haul and medium-haul aircraft, qualitatively improving service, and increasing the professionalism of personnel.
The company provides air transportation services in business, comfort, economy plus and economy classes.
The competitive advantages of UTair in the field of passenger air transportation include:
· Operation of modern economical aircraft such as ATR-42/72 and Boeing;
· Highly qualified aviation personnel and our own Personnel Training Center;
· An effective system of sales of services in Russia and abroad;
· The developing system of online booking through the airline's website and by phone.
Geography of passenger transportation:
Regular flights operate
70 destinations in 8 countries
Charter flights are carried out to 19 countries of the world
Helicopter work
UTair Aviation is the largest helicopter operator in Russia and one of the leaders in the global helicopter business.
The airline's fleet of helicopters numbers 200 aircraft, including more than twenty of the world's largest Mi-26 helicopters, capable of carrying 20 tons of cargo inside the fuselage and on the external sling.
UTair helicopters perform work both under commercial contracts and under UN contracts in all regions of the world - from North America to South Africa and Asia. At the same time, the airline continues to implement the strategy of active business expansion into international markets.
The main part of helicopter operations in Russia is performed by UTair in the northern regions of the country, as well as within the administrative boundaries of the Ural and Siberian federal districts. The market for helicopter operations in these regions is characterized by a relatively high concentration of enterprises that have the financial capacity to attract aviation for their own needs. The main types of services provided by the airline are the transportation of people and goods in the interests of oil and gas companies in the Russian Federation. Among the customers of aerial work on helicopters, the leading place is taken by such companies as Surgutneftegaz, Rosneft, Gazprom-Avia, THK-BP, Integra, BP, Shell, Novatek, Marathon Oil Company.
Geography of helicopter operations:
Over 30 countries around the world
In 2008, UTair Aviation performed helicopter operations in the following countries: Sudan, Democratic Republic of Congo, Sierra Leone, Liberia, Cote d'Ivoire, Afghanistan, Nepal, Chad, Slovakia, Czech Republic, Hungary, Poland.
Aviation services
UTair provides airport services, aircraft repair and maintenance, servicing of its own flights, personnel training and education, and sale of air travel.
Airports
The airline continues to intensively develop its airport activities, including ground handling of aircraft of Russian and foreign production, reception and dispatch of passengers, mail, cargo, aircraft maintenance, operation of air terminals, airfields and other ground facilities.
UTair owns and operates six regional airports, including: in the city of Noyabrsk, in the villages of Berezovo, Igrim (Khanty-Mansi Autonomous Okrug), Cape Kamenny, Tazovsky (Yamalo-Nenets Autonomous Okrug) and in Ust-Kut ( Irkutsk region). To support flights of small aircraft, the airline operates 15 assigned landing sites in the Tyumen region. The airport activities of all UTair branches are certified.
The strategic goal of the airline in the field of airport activities is to increase the economic efficiency of the business, improve passenger service through the renovation and modernization of infrastructure facilities and technological systems.
Maintenance and repair (MRO)
The main tasks of the MRO business are to ensure stable, uninterrupted, safe and international standards of operation of the airline's aircraft, as well as to provide similar services to other air carriers.
UTair is the world's largest provider of MRO services for Russian-made helicopters, as well as one of the largest providers of aircraft maintenance services in the Tyumen Region, Khanty-Mansiysk Autonomous Okrug-Yugra and Central Russia.
As a result of the restructuring carried out in UTair, maintenance and repair of aviation equipment is carried out by subsidiaries certified for the relevant types of work: - Technician, - Engineering, - Express.
-Technician"- one of the largest centers in Russia for MRO of aviation equipment, which provides operational and periodic maintenance of Tu-154M (B), Tu-134, An-24, An-26, Yak-42, Yak-40, ATR-42 aircraft, Boeing-737, Gulfstream.
The main activity of the aviation repair complex -Engineering "(Tyumen), - overhaul of Mi-8, Mi-8MTV, Mi-8AMT, Mi-2 helicopters, An-2 aircraft and their components, as well as modification, interior improvement, repair and restoration work in the conditions of operating enterprises.
The structure of "UTair-Engineering" includes the engineering and design department, which is the holder of reference documentation for the types Mi-26, Mi-171, Mi-8T, Mi-8MTV, Mi-10K.
Nine external linear stations, which are also part of the UTair-Engineering structure, carry out maintenance and routine repairs of UTair helicopters in all regions of the world where they are operated.
A network of 13 certified line stations UTair-Technic and UTair-Engineering in Central Russia, Tyumen and Irkutsk regions, Krasnoyarsk Territory provides maintenance of UTair aircraft and other aviation equipment operators.
-Express" carries out:
Ensuring and improving the airworthiness procedures of a large fleet of Tu-134 aircraft at the final stage of their operation, which includes MRO, individual identification of the resource and certification of an aircraft instance, timely provision of their operation with units and components;
Maintaining the airworthiness of the available An-24 fleet.
The Technical Directorate of the airline, UTair-Technic, UTair-Engineering, the UTair-Express aviation technical base form a single structure that ensures the implementation of the entire range of routine maintenance, as well as effective management of maintaining the airworthiness of Russian and Russian aircraft operated by the company. foreign production.
Service support
The branch of UTair Aviation ZapSib-Catering is a large operator of services and is one of the leading manufacturers of in-flight catering in Russia.
The main activities of the branch include:
Production, storage and delivery of onboard food to aircraft,
Service provision of aircraft, including external washing, internal cleaning, soft collation,
Picking and delivery of printed materials on board,
Public catering,
· Retail trade.
The in-flight catering workshops operating in Surgut, Khanty-Mansiysk, Tyumen and Noyabrsk are equipped with modern technological equipment that makes it possible to prepare tasty and high-quality meals for passengers of own flights and flights of other air carriers.
The branch is constantly striving to improve the level of passenger service, using advanced methods of in-flight catering shops, service support services of other airlines and airports in Russia. ZapSib-Ketering cooperates with in-flight catering shops at Moscow airports Vnukovo and Domodedovo, as well as at the airports of Samara, Krasnodar, Anapa, Omsk, Ufa, Kazan, Novosibirsk, etc.
Staff training
Maintaining and improving the level of flight safety, regularity and quality of the service provided is largely determined by the availability of highly qualified personnel. That is why one of the priority tasks of UTair's management is to pursue a targeted personnel policy based on the principles of constant and regular improvement of the level of professional training of employees. To this end, the Group operates a non-profit partnership "Personnel Training Center" (NP CPP) - a non-governmental educational organization for additional professional education of aviation personnel licensed for a wide range of training types for flight personnel, engineering personnel and other aviation specialists. NP CPP is one of the largest training centers for civil aviation in Russia and has an extensive database of information materials, training simulators and premises, which allows for full theoretical and practical training of students. The teachers have a higher education, rich experience in production, team-flight work, and many years of teaching experience. NP TsPP is the only training center for civil aviation in Russia, which has a flight methodical air squadron, the instructor staff of which has extensive experience in performing flights on domestic and international airlines.
Air freight sales
The sale of transportation and services of UTair Aviation is carried out by the sale of transportation and services ”(TsRPU). It is one of the largest air transportation sales agencies in Russia, with an extensive network of sales offices in the Tyumen region and other regions of Russia.
Since the establishment of the enterprise from a small agency, CRPU has turned into an extensive network of branches, offices, numbering 149 points of sale of air tickets in 68 cities and towns. The entire range of services for the sale of air transportation is provided in almost every region of Russia - from the Far North to the southern borders.
Thanks to accreditations with TCH and IATA, the Center for Sales of Transportation and Services sells tickets for flights of UTair, other airlines in Russia and the CIS, as well as leading world airlines. In addition, TsRPU provides a full range of services on the air services market:
· Registration of baggage and cargo transportation for UTair flights, as well as for regular flights of Russian and CIS airlines;
· Conclusion of contracts with legal entities for the purchase of air tickets by bank transfer;
· Provision of services for prepayment of the cost of air transportation in one city with the subsequent receipt of an air ticket in another city;
· Sale of air tickets on bank plastic cards VISA, MasterCard, American Express, issuance of air tickets on credit;
· Reservation of seats on UTair flights, affixing seats in open date tickets;
· Issuance of air tickets under UTair airline interline agreements for registered and charter flights;
· Delivery of air tickets in cities. Tyumen, Noyabrsk, Nizhnevartovsk, Khanty-Mansiysk, Ufa, pos. Tazovsky.
· Mastering new types and increasing the efficiency of performed helicopter operations by increasing the use of light helicopter technology.
Helicopter operations abroad
· Strengthening of the occupied position among the leaders of the world market of helicopter operations.
· Integration into the global helicopter community through the unification of standards and technologies and cooperation with world helicopter operators.
· Increasing the market share of helicopter operations under commercial contracts in Africa, India and Canada, expanding the scale of operations in Europe, as well as performing helicopter operations to service the development of offshore oil and gas fields by Russian and foreign companies.
· Strengthening cooperation with the UN on helicopter support for peacekeeping missions.
Airport activities
· Improving the efficiency of the airports of the UTair Group.
· Implementation of effective modern technologies for servicing passengers, aircraft and cargo.
Repair and maintenance of aviation equipment
· Expansion of the scale of aircraft maintenance and repair services, operated not only by UTair Group, but also by third-party airlines.
· Certification for compliance with international requirements (JAR, FAR), introduction of standards in accordance with ISO-9001/2000 and technical regulations.
Catering
· Expansion of the scale of provision of catering services not only to UTair Group companies, but also to third-party air carriers.
· Strengthening its position among the five largest suppliers of in-flight catering in Russia.
6. Analysis of performance results
High prices for aviation fuel in the first half of last year and the global financial crisis have had a serious impact on the global airline industry. Against the background of the first profitable year for the aviation industry in the last seven years, 2007, last year the total losses of the global air transportation industry amounted to $ 8 billion (according to IATA). At the end of 2008, the volume of freight traffic decreased by 4%, and passenger traffic - increased by only 1.6%.
The end of 2008 was one of the most difficult periods for airlines: world cargo transportation in December compared with the previous year decreased by 22.6%, passengers - by 4.6%. According to the IATA forecast, revised in March 2009, this year the losses of the world air transportation industry will exceed $ 4.7 billion at a fuel price of $ 50 per barrel. At the same time, passenger traffic will decrease by 3%, the volume of freight traffic - by 5%, profitability - by 3%. Directly, the revenue of air carriers will decrease by $ 35 billion: from $ 536 billion in 2008 to $ 501 billion. At the same time, the total amount of losses will be less than in 2008, due to a sharp drop in aviation fuel prices.
In 2008, Russian airlines carried 49.8 million people (an increase of 10.4% compared to 2007). Passenger traffic also increased by 10.4% to 122.6 billion passenger kilometers. 779.4 thousand tons of cargo were transported (an increase of 6.4%). The volumes of regular and non-scheduled traffic increased at a similar pace.
Russian airlines transported 779.4 thousand tons of cargo in 2008, which is 6.4% more than in the previous year; freight turnover increased by 7.8% to 3.7 billion ton-kilometers. The volume of freight traffic increased on international routes by 12.6%, to 519.9 thousand tons, on domestic routes - decreased by 4.1%, to 259.4 thousand tons.
It should be noted that the overall increase in traffic volumes was largely due to the results of the industry in the first half of the last year. According to the results of the first six months, the growth in the number of passengers carried by Russian airlines amounted to 21.9%, cargo and mail - 27.5%. By this period, the intensive growth of prices for aviation fuel reached its maximum.
The share of aviation fuel costs in the operating costs of most Russian airlines has now exceeded 60-70%. More than half of the flights of Russian airlines, carried out on fuel-efficient aircraft of domestic production of the previous generation, turned out to be far below the profitability line. By the end of the summer, many airlines were heavily indebted to fueling stations at airports. As a result, the latter stopped their service, which led to massive long delays in flights during the peak months of passenger traffic (August-September).
The impact of the financial crisis on the reduction in consumer demand for air travel began to manifest itself since September last year: in September, the total growth rates of passenger traffic of Russian airlines amounted to only 3.6%, in October 0.8%, in November they decreased by 6.5% , in December the fall was 12%.
6.1. Passenger Transportation
The year 2008 for Russian airlines performing passenger and cargo transportation, despite the negative expectations associated with the rise in prices for aviation fuel and the developing financial and economic crisis, can be considered generally successful. According to the report of the Transport Clearing House (TCH), in 2008 Russian airlines transported 49.8 million passengers and 779.4 thousand tons of cargo and mail, which exceeds the figure by 10.4% and 6.4%, respectively. %. The first half of 2008 was characterized by high rates of growth, in the 3rd quarter there was a slight slowdown, and in the 4th quarter of 2008 there were tendencies of decrease in comparison with the same period of the previous year.
