Aeroflot shareholders approve authorized capital increase through additional offering

AK&M 15 September 2020 19:17

At the recent extraordinary meeting, the shareholders of Aeroflot approved the increase in the company's authorized capital through the public offering of up to 1.7 billion additional shares, the company informed.

The shareholders also decided to amend the charter so as reflect the increase in the number of declared shares from 250 million to 1.95 billion. The change will take effect after amendments to the articles of association are registered by the Federal Tax Service.

The additional stock placement parameters, including the placement price, will be determined later by the Board of Directors of PJSC Aeroflot.

Aeroflot Group is the largest aviation holding in Russia comprising a number of subsidiaries: JSC DONAVIA, Rossiya Airlines, JSC Orenburg airlines (Orenair), JSC Aurora Airlines (the united Far East-based airline that carried out the first flight in November 2013) as well as Pobeda Airlines providing low-cost air transport services.

PJSC Aeroflot – Russian Airlines (tax number: 7712040126) is Russia's flagship air carrier.  As of March 31, 2020, Aeroflot Group's fleet totaled 361 aircraft, the fleet of PJSC Aeroflot - Russian Airlines was reached 247 airliners.

IFRS loss of Aeroflot for Q1 2020 increased by 42.8% to RUB 22.484 billion from RUB 15.746 billion a year earlier. Revenue decreased by 10.2% to RUB 123.894 billion from RUB 138.041 billion, EBITDA by 38.8% to RUB 13.054 billion from RUB 21.333 billion.

RAS net loss of Aeroflot for Q1 2020 decreased by 4.2% to RUB 16.139 billion from RUB 16.85 billion a year earlier. Revenue decreased by 11.5% to RUB 100.867 billion from RUB 114.026 billion.