Page 114 - RusRPTJun20

2018. The audited consolidated financial statements of SVO JSC and its subsidiaries (the Group) for 2019 were approved at a regular meeting of the board of directors. The financial statements were prepared in accordance with the requirements of International Financial Reporting Standards (IFRS) and reviewed by the independent auditor Ernst & Young LLC. Reconstruction of runway and apron are proceeding on schedule. The Board of Directors also approved the progress report on the project to reconstruct Runway 1 and the western section of the apron, which will be rebuilt to accommodate parking for aircraft and house a number of other airport facilities. To ensure the reconstruction of these facilities at the airport, a crushing-and-screening complex and two concrete plants have been installed. More than 900 workers and specialists, 35 units of special equipment and 215 dump trucks were involved.
Russia's national air carrier​ ​Aeroflot​ Group could sale 51% stake in the Far East carrier Avrora ​to the region of Sakhalin, Reuters and Tass reported onMay29citingunnamedsources.Asreportedby​bneIntelliNews,​ beforethe outbreak of the coronavirus (COVID-19) pandemic that devastated the airline industry, President Vladimir Putin had ordered the government to set up an airline for domestic routes, ​specifically targeting the Far East and other hard-to-reach territories​.
Russia’s flag carrier ​Aeroflot​ is planning to operate around 1,000 weekly flights (500 rotations) in May – all from Moscow – to 56 cities around Russia​, the company has announced, according to ​Russian Aviation Insider​. This is twice as many as in April although, before the Coronavirus crisis, the airline was operating 3,000 domestic flights per week. According to its newly published schedule, Aeroflot is to make on average 140 flights per day – double that of its April offering. In April the airline chose to reduce its services to between 70 and 80 daily flights, having completely suspended services to several destinations including to Arkhangelsk, Grozny, Kemerovo, Nizhnekamsk, Saratov, Voronezh, and other regional cities. Frequencies on some other routes were reduced to just one weekly flight, including destinations such as Barnaul, Gelendzhik, Khanty-Mansiysk, and Yakutsk.
Pobeda, the low-cost airline of Russia's national air carrier​ ​Aeroflot​, will resume the domestic flights on June 1​, RBC business portal reported on May 14 citing the representatives of the company. As reported by ​bne IntelliNews,​ PobedaisthefastestgrowingassetinAeroflotandbecame Russia's ​third largest carrier in the beginning of 2020​. But the budget airline had to ground all flights​ during the coronavirus (COVID-19) epidemic, including to international destinations in Italy, Germany, Turkey, and Spain. In 2019 Russian Federal Antimonopoly Service (FAS) watchdog ​pressed Aeroflot and Pobeda to give up foreign flights​ and focus on the domestic market to bring the prices on domestic air travel down. What the regulators could not achieve, the pandemic could. As the sales of tickets on 73 domestic destinations will resume on May 14, the average prices for the 2020 summer season expected to be almost three times lower year on year, Pobeda's representatives told RBC. The outlook on the industry remains negative overall, as the amount of state aid so far proposed by the government is seen as largely insufficient​ to cover up to $5bn estimated losses of air Russian carriers.
114​ RUSSIA Country Report​ June 2020 ​ ​www.intellinews.com