The Board of Directors of Aeroflot has recommended that the shareholders decide to increase the company’s authorized capital by issuing up to 1.7 billion additional shares, the company informed.
As part of measures aimed at improving the financial stability of Aeroflot Group, the Board of Directors considered amendments to the charter to increase the number of authorized shares. The number of authorized (not issued) shares in the Charter is proposed to be increased to 1,950,000,000 from 250,000,000 shares in order to provide for the possibility to increase the charter capital by issuing additional shares – subject to the decision of an extraordinary general meeting of shareholders.
The General Meeting of Shareholders is recommended to approve the proposed amendments to the Charter of PJSC Aeroflot. The amendment shall come into effect after the relevant resolution is passed by the General Meeting of Shareholders and the amendments to the Charter are registered with the Federal Tax Service.
The meeting is scheduled for September 11.
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 the first half of 2020 increased 3 times to RUB 42.294 billion from RUB 14.12 billion a year earlier. Revenue decreased by 51.9% to RUB 121.704 billion from RUB 252.863 billion.
