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Reportedly, the two car majors will focus on joint projects in component production, the development of new technologies and the digital transformation of marketing and sales. The final structure of the alliance is to be decided by the end of 2020, but it not clear whether a merger is an option.
Russian heavy vehicle maker Kamaz and the Moscow Automobile and Road University (MADI) will start testing driverless technologies in the nearest future on public roads, Vedomosti d aily reported on February 14 citing industrysources.AsreportedbybneIntelliNews, thedriverlesssegmentcould get a boost from the state, as the government was reported to consider fully covering the testing of driverless vehicles.
9.2.3 Aviation corporate news
Aeroflot has released its 4Q19 RAS results. Given how bad 4Q18 was, the results showed significant y/y improvement. The operating loss was 13.4 times lower than in 4Q18, while the net loss was 6.5 times lower. Analysts believe the results will be supportive for the stock. Apart from the roughly 13% y/y decrease in fuel expenses in 4Q19, there were a couple of important factors that helped improve Aeroflot's performance in the quarter. First, the company mentioned that RASK growth was 5.9% in 4Q19, up from 2.8% in 1H19 and 1.3% in 9m19. Second, the pressure from one of Aeroflot's key cost items (airport charges and costs related to ground handling) eased in 4Q19. We calculate that this cost line increased by roughly 9.5% y/y in 4Q19 versus the 25.3% growth in 9m19.
Moscow Sheremetyevo international airport could go fully private after the state property agency Rosimushestvo received a bid for a 30% stake in the airport, Vedomosti and Kommersant d aily reported on February 13 citing unnamed federal officials. Sheremetyevo Holding that holds 66% in the airport is controlled by Cyprus-registered TPS Avia Holdings, controlled by Alexander Ponomarenko and Alexander Skorobogatko (65%) and stoligarch ArcadyRotenberg(34.78%).AsreportedbybneIntelliNews, in2019the co-owner and chairman of Sheremetyevo’s board Ponomarenko claimed that the shareholders hold a call option on 30.5% stake in the airport of Rosimushestvo.
Lowcost subsidiary Pobeda of Russian Aeroflot Group carried 0.92mn passengers in January 2020, boosting its traffic by 34% and becoming Russia’s third-largest carrier, Vedomosti daily reported on February 11 citing the data by RosAviatsia agency. As reported by bne IntelliNews, analysts are increasingly keen on the stocks of Russian national air carrier Aeroflot, with its investment case underpinned by the success of Pobeda among other factors. In January Pobeda came after the group's flagship airline Aeroflot (2.64mn people, down by 5%) and private S7 Airlines (1.37mn, up by 17%). Overall passenger turnover for Russian airlines increased by 6.4% to 8.9mn people.
9.2.5 Retail corporate news
Russia’s leading retailer X5 Group started a roll-out of the new concept for its Perekrestok supermarket format, which includes a new logo, updated interior and exterior designs, and a selection of new services offered in-store. More than 100 new stores will be opened and 30 stores will be refurbished in 2020, according to the X5 rollout plan. Perekrestok will adopt the new concept
96 RUSSIA Country Report March 2020 www.intellinews.com
