Full name: JSC "AIR COMPANY "RUSSIA"
Taxpayer Identification Number: 7810814522
Type of activity (according to OKVED): 51.10.1 - Transportation by air passenger transport subject to a schedule
Form of ownership: 42 - Mixed Russian ownership with shares of ownership of constituent entities of the Russian Federation
Organizational and legal form: 12267 - Non-public joint-stock companies
Reporting prepared in thousand rubles
See detailed verification of the counterparty
Accounting 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# |
Material prospecting 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 | ||
Reserves | 1210 | #1210# |
Value added tax on purchased assets | 1220 | #1220# |
Accounts receivable | 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, contributions of partners) | 1310 | #1310# |
Own shares purchased 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 obligations | 1450 | #1450# |
Total for Section IV | 1400 | #1400# |
V. SHORT-TERM LIABILITIES | ||
Borrowed funds | 1510 | #1510# |
Accounts payable | 1520 | #1520# |
revenue of the future periods | 1530 | #1530# |
Estimated liabilities | 1540 | #1540# |
Other obligations | 1550 | #1550# |
Total for Section V | 1500 | #1500# |
BALANCE | 1700 | #1700# |
Brief balance sheet analysis
Chart of changes in non-current assets, total assets and capital and reserves by year
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 or 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# |
FOR REFERENCE | ||
Result from the 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# |
Total financial result of the period | 2500 | #2500# |
Brief analysis of financial results
Graph of changes in revenue and net profit by year
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 | ||
Receipts - total | 4110 | #4110# |
including: from the sale of products, goods, works and services |
4111 | #4111# |
lease payments, license fees, royalties, commissions and other similar payments | 4112 | #4112# |
from resale of financial investments | 4113 | #4113# |
other supply | 4119 | #4119# |
Payments - total | 4120 | #4120# |
including: to suppliers (contractors) for raw materials, materials, works, 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 | ||
Receipts - total | 4210 | #4210# |
including: from the sale of non-current assets (except financial investments) |
4211 | #4211# |
from the sale of shares of other organizations (participatory 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 income 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 use of non-current assets |
4221 | #4221# |
in connection with the acquisition of shares of other organizations (participatory interests) | 4222 | #4222# |
in connection with the acquisition of debt securities (rights to claim funds against other persons), provision of loans to other persons | 4223 | #4223# |
interest on debt obligations 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 | ||
Receipts - total | 4310 | #4310# |
including: obtaining credits and loans |
4311 | #4311# |
cash deposits of owners (participants) | 4312 | #4312# |
from issuing shares, increasing participation shares | 4313 | #4313# |
from the issue of bonds, bills and other debt securities, etc. | 4314 | #4314# |
other supply | 4319 | #4319# |
Payments - total | 4320 | #4320# |
including: owners (participants) in connection with the repurchase of shares (participatory interests) of the organization from them or their withdrawal from the membership of participants |
4321 | #4321# |
for payment of dividends and other payments | 4322 | #4322# |
on the distribution of profits in favor of owners (participants) in connection with the repayment (redemption) of bills and other debt securities, repayment 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 foreign currency exchange rates against the ruble | 4490 | #4490# |
6. Report on the intended use of funds
Indicator name | Code | #PERIOD# |
---|---|---|
Balance of 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# |
Others | 6250 | #6250# |
Total funds received | 6200 | #6200# |
Funds used | ||
Expenses for targeted activities | 6310 | #6310# |
including: | ||
social and charitable assistance | 6311 | #6311# |
holding conferences, meetings, seminars, etc. | 6312 | #6312# |
other events | 6313 | #6313# |
Expenses for maintaining the management staff | 6320 | #6320# |
including: | ||
expenses related to wages (including accruals) | 6321 | #6321# |
non-wage payments | 6322 | #6322# |
expenses for official travel and business trips | 6323 | #6323# |
maintenance of premises, buildings, vehicles and other property (except for repairs) | 6324 | #6324# |
repair of fixed assets and other property | 6325 | #6325# |
other | 6326 | #6326# |
Acquisition of fixed assets, inventory and other property | 6330 | #6330# |
Others | 6350 | #6350# |
Total funds used | 6300 | #6300# |
Balance of funds 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, purchased from shareholders |
Extra capital | Reserve capital | retained earnings (uncovered loss) |
Total |
---|---|---|---|---|---|---|---|
The amount of capital per | 3200 | ||||||
Behind Capital increase - total: |
3310 | ||||||
including: net profit |
3311 | X | X | X | X | ||
property revaluation | 3312 | X | X | X | |||
income attributable directly to capital increase | 3313 | X | X | X | |||
additional issue of shares | 3314 | X | X | ||||
increase in the par value of shares | 3315 | X | X | ||||
3316 | |||||||
Reduction of capital - total: | 3320 | ||||||
including: lesion |
3321 | X | X | X | X | ||
property revaluation | 3322 | X | X | X | |||
expenses directly attributable to reduction of capital | 3323 | X | X | X | |||
reduction in the par value of shares | 3324 | X | |||||
reduction in the number of shares | 3325 | X | |||||
reorganization of a legal entity | 3326 | ||||||
dividends | 3327 | X | X | X | X | ||
Change in additional capital | 3330 | X | X | X | |||
Change in reserve capital | 3340 | X | X | X | X | ||
The amount of capital per | 3300 |
Additional checks
Check counterparty Download data for financial analysis
* Indicators that are adjusted in comparison with Rosstat data are marked with an asterisk. The adjustment is necessary 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 data provided depends on the accuracy of the data submission to Rosstat and the processing of this data by the statistical agency. When using this reporting, we strongly recommend that you check the figures with the data of a paper (electronic) copy of the reporting posted on the official website of the organization or obtained from the organization itself. Financial analysis of the presented data is not part of Rosstat information and was performed using specialized
Pre-approved
Supervisory Board
OJSC UTair Airlines
(Minutes No. 10/08 dated May 22, 2009)
UTair Airlines
Annual report
UTair Airlines is one of the leading passenger carriers in Russia and is one of the largest helicopter operators in the world. UTair operates in several market segments:
passenger regular and charter air transportation on airline aircraft;
helicopter operations in Russia and international markets (including contracts with the UN);
aviation services: airport activities, maintenance and repair, service support for passenger flights.
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 producing enterprises, international organizations. All together, this gives the airline’s business the necessary stability and creates high potential for further development.
UTair Airlines today:
largest helicopter operator 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.
* - 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. Committees of the Supervisory Board 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. Share capital structure of UTair Airlines OJSC 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. Environment protection 69 | |
10. Contacts 71 | |
11. Applications 72 | |
11.1. List of major transactions and related-party transactions concluded by UTair Airlines OJSC in 2008. 72 | |
11.2. Accounting statements of UTair Airlines OJSC for 2008. 72 | |
11.3. Information about the fleet of aircraft operated by OJSC UTair Airlines 76 | |
11.4. Information about the companies included in the UTair Group 79 | |
11.5. Information about branches and representative offices of UTair Airlines OJSC 82 | |
11.6. Information on compliance with the Code of Corporate Conduct 83 |
1. Glossary
European Aviation Safety Agency (European Aviation Safety Agency). |
|
Helicopter Association International (International Helicopter Association). |
|
International Air Transport Association (International Air Transport Association). |
|
International Civil Aviation Organization (International Civil Aviation Organization). |
|
IATA Operational Safety Audit (IATA Operational Safety Audit Program). |
|
Aircraft. |
|
Completed raid | Actual flight hours on the aircraft. |
Completed passenger turnover | An indicator calculated by multiplying the actual number of commercial passengers carried on each leg of a flight by the length of the leg. |
Civil Aviation. |
|
UTair Group, Group, Company, UTair Airlines, Airline, UTair, UTair Group Society | Open Joint-Stock Company UTair Airlines, its subsidiaries (dependents) and other affiliated legal entities, except in cases where otherwise follows from the context. |
Fuels and lubricants. |
|
Subsidiaries and dependent companies of UTair Airlines OJSC. |
|
The ratio of the number of ton-kilometers completed to the maximum ton-kilometers as a percentage. |
|
MICEX | Closed joint-stock company "Moscow Interbank Currency Exchange". |
IFRS | International Financial Reporting Standards (IFRS). |
OJSC UTair Airlines, Society | Open Joint Stock Company "UTair Airline". |
Maximum permissible emissions. |
|
Maximum permissible discharges. |
|
Pkm (passenger kilometer) | Transporting 1 passenger over a distance of 1 km. |
Limit passenger turnover | An indicator calculated by multiplying the number of passenger seats at each stage of a flight by the length of the stage. |
Maximum tonne-kilometre | An indicator calculated by multiplying the amount of available commercial load (passengers, cargo and mail) at each stage of a flight by the length of the stage. |
Reduced raid | The flight time given to the An-2 aircraft in accordance with the coefficients. This indicator best 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 (ton-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. |
Reducing Metric and Currency Units
U.S. dollar |
|
kilogram |
|
kilometer |
|
meter |
|
million |
|
billion |
|
Russian ruble |
|
ton |
|
thousand |
2. Key indicators
Financial indicators
Change 2007/2008 |
||||
Asset value (average annual value), thousand rubles. |
3. Address to shareholders
Dear Colleagues,
Last year, UTair Airlines 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 financial and economic crisis that began. Nevertheless, we were able to almost completely implement our plans for 2008. First of all, in such vital areas as improving the airline’s structure, updating the aircraft fleet, and developing new aviation markets in Russia and abroad. The successfully implemented strategy for developing the route network and expanding the geography of flights bore fruit - in 2008 we transported 3.225 million passengers - 12.2% more than in 2007, and increased operational hours on helicopters by 7.3%. Despite the constant increase in costs in the industry, we managed to make a profit at the end of the year and achieve a relative increase in financial indicators in our main areas of activity. In 2008, the revenue of UTair Airlines OJSC amounted to 32,994,476 thousand rubles. The company's net profit in the reporting year amounted to 75,822 thousand rubles.
One of the most significant events for the airline was its entry into the International Air Transport Association (IATA) in 2008. Having successfully passed the IOSA operational safety audit procedure, UTair, among the leading airlines in the world, confirmed its status as a carrier that meets the high requirements of international safety standards.
The serious decline in the global aviation business, which began in the fourth quarter of 2008, has continued into the current year. According to IATA, global industry losses in 2008 amounted to $8.5 billion, and the loss forecast for 2009, initially estimated at $2.5 billion, was revised to $4.7 billion in March. dollars. The Russian civil aviation industry was one of the first to feel the negative impact of the crisis, although overall at the end of the year it showed an upward trend - passenger traffic of Russian airlines in 2008 increased by 10.4%. As a result of the impact of unfavorable economic factors over the past year, several airlines were forced to declare themselves bankrupt and leave the market, unable to fulfill their obligations to passengers and partners.
Competent financial and management policies allowed UTair to cope with the negative impact of the crisis and preserve the company’s staff, its assets and priority areas of activity. This was largely achieved through a multidisciplinary business structure, in which various activities complement each other depending on the market situation. At the same time, we promptly implemented a number of anti-crisis resource-saving measures. Significant cost reductions were achieved through an active transition to operating more efficient types of aircraft on domestic routes. In the course of optimizing the route network, ineffective routes were reduced and efforts were concentrated on the most profitable directions. After the bankruptcy of a number of airlines, UTair was able to take advantage of the current market situation and occupy the vacated niches. In particular, such popular market destinations as Moscow - Krasnoyarsk, Omsk, Barnaul, Perm and Baku were opened.
In February 2008, as part of the modernization program for its passenger aircraft fleet, UTair began operating the Boeing 737-500 airliner. This made it possible to optimize the structure of the fleet of medium-haul 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 expand our fleet with European-made ATR-42 and ATR-72 regional aircraft, the number of which reached 15 in 2008. All this, undoubtedly, gives us the opportunity to compete even more successfully in the passenger air transportation market.
Last year marked the beginning of a promising and fruitful cooperation 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 an interline agreement with the leading European airline, UTair has significantly expanded its competitive advantages: the airline's passengers have the opportunity to purchase a single ticket for flights 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 constant work to strengthen and develop its position in the global and Russian helicopter markets has been the improvement of its rotorcraft fleet. Last year, the largest contract was concluded with OJSC Ulan-Ude Aviation Plant for supply during 2008-2010. 20 new Mi-171 helicopters with an option for another 20 aircraft. The first batch of Mi-171s arrived at the airline in October 2008. The company's fleet was also replenished with two Eurocopter AS 350B3 helicopters purchased as part of the Light Multi-Purpose Helicopter project being implemented by UTair. The company has been successfully operating Eurocopter AS 355N and VO-105 helicopters since 2006. Their advantages are highly appreciated by customers: light helicopters transport VIP clients, patrol oil and gas pipelines, take photos and videos, deliver cargo on an external sling, and also perform medical flights. The AS 350B3 helicopters that have joined the company's fleet are used mainly for work in the field of geological exploration and geophysics.
In Houston (USA), during the largest international exhibition HELI-EXPO 2008, a firm agreement was signed between UTair Airlines and Eurocopter for the supply of new EC 175 helicopters designed to carry 16 passengers. UTair received the status of the launch customer of this program. Starting in 2012, the airline will receive 15 helicopters with an option for another 15 aircraft. UTair and Eurocopter also announced their intention to implement a large-scale joint project to create an integrated center for the maintenance and operation of Eurocopter helicopters in Russia. The project provides for the opening of a certified maintenance center for Eurocopter helicopters at UTair production facilities, as well as the organization of a center for training flight personnel for the maintenance and operation of rotorcraft manufactured by Eurocopter.
The geography of flights has been expanded and the volume of helicopter work under commercial contracts has been increased. In 2008, UTair's subsidiary in Europe carried out complex construction and installation work in Poland, Slovakia, Bulgaria, Serbia, Montenegro, Bosnia and Herzegovina. In Northern and Western Canada, with the help of the Mi-26 helicopter, aerial work was carried out, unique for the North American market, to deliver heavy, bulky cargo to oil and gas fields. The South African subsidiary of UTair has resumed firefighting operations in South Africa.
The past year has become another test of strength for the airline. We did it. And they did it well. On behalf of the Management Board of UTair Airlines OJSC, I express my sincere gratitude and appreciation to the entire workforce of the company. Thanks to investors and shareholders, whose trust helps us meet market requirements and maintain a high bar in ensuring flight safety and providing quality services.
I would like to note that the challenges that 2009 has in store for us will require us to fully devote ourselves to our favorite work 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 emerge from it even stronger and more successful.
/signature/
Andrey Martirosov
General Director - Chairman of the Board of UTair Airlines OJSC
being carried out... 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 financial statements, reports about profits and losses (accounts...
Pre-approved
Supervisory Board
"UTair"
(Minutes No. 10/08 dated 01/01/2001)
UTair Airlines
Annual report
UTair Airlines is one of the leading passenger carriers in Russia and is one of the largest helicopter operators in the world. UTair operates in several market segments:
o passenger regular and charter air transportation on airline aircraft;
o helicopter operations in Russia and international markets (including contracts with the UN);
o aviation services: airport activities, maintenance and repair, service support for passenger flights.
UTair presence segments are good diversified, in each of them the company works with different categories of clients - individuals, oil and gas producing enterprises, international organizations. All together, this gives the airline’s business the necessary stability and creates high potential for further development.
UTair Airlines today:
· largest helicopter operator 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 Association air transport (IATA) .
· The company's shares are traded on Russian and foreign stock markets.
· takes 166th place in the Rating of the 400 largest companies in Russia in terms of sales volume and 139th 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 Airline".
Maximum permissible emissions.
Maximum permissible discharges.
Pkm (passenger kilometer)
Transporting 1 passenger over a distance of 1 km.
Limit passenger turnover
An indicator calculated by multiplying the number of passenger seats at each stage of a flight by the length of the stage.
Maximum tonne-kilometre
An indicator calculated by multiplying the amount of available commercial load (passengers, cargo and mail) at each stage of a flight by the length of the stage.
Reduced raid
The flight time given to the An-2 aircraft in accordance with the coefficients. This indicator best 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 (ton-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: production figures for 2008 for passenger transportation include flights on the Mi-8 and AN-2.
Financial indicators
|
3. Address to shareholders
Last year, UTair Airlines 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 financial and economic crisis that began. Nevertheless, we were able to almost completely implement our plans for 2008. First of all, in such vital areas as improving the airline’s structure, updating the aircraft fleet, and developing new aviation markets in Russia and abroad. The successfully implemented strategy for developing the route network and expanding the geography of flights bore fruit - in 2008 we transported 3.225 million passengers - 12.2% more than in 2007, and increased operational hours on helicopters by 7.3%. Despite the constant increase in costs in the industry, we managed to make a profit at the end of the year and achieve a relative increase in financial indicators in our main areas of activity. In 2008, UTair's revenue amounted to thousands. rub. The company's net profit in the reporting year amounted to thousands. rub.
One of the most significant events for the airline was its entry into the International Air Transport Association (IATA) in 2008. Having successfully passed the IOSA operational safety audit procedure, UTair, among the leading airlines in the world, confirmed its status as a carrier that meets the high requirements of international safety standards.
The serious decline in the global aviation business, which began in the fourth quarter of 2008, has continued into the current year. According to IATA, global industry losses in 2008 amounted to $8.5 billion, and the loss forecast for 2009, initially estimated at $2.5 billion, was revised to $4.7 billion in March. dollars. The Russian civil aviation industry was one of the first to feel the negative impact of the crisis, although overall at the end of the year it showed an upward trend - passenger traffic of Russian airlines in 2008 increased by 10.4%. As a result of the impact of unfavorable economic factors over the past year, several airlines were forced to declare themselves bankrupt and leave the market, unable to fulfill their obligations to passengers and partners.
Competent financial and management policies allowed UTair to cope with the negative impact of the crisis and preserve the company’s staff, its assets and priority areas of activity. This was largely achieved due to the multidisciplinary business structure, in which various activities complement each other depending on the market situation. At the same time, we promptly implemented a number of anti-crisis resource-saving measures. Significant cost reductions were achieved through an active transition to operating more efficient types of aircraft on domestic routes. In the course of optimizing the route network, ineffective routes were reduced and efforts were concentrated on the most profitable directions. After the bankruptcy of a number of airlines, UTair was able to take advantage of the current market situation and occupy the vacated niches. In particular, such popular market destinations as Moscow - Krasnoyarsk, Omsk, Barnaul, Perm and Baku were opened.
· Helicopter work in Russia and abroad;
· Airport activities;
· Services for:
· repair and maintenance of aviation equipment;
· providing passengers with in-flight 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 airline 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 aviation safety, flight operations, tariff policy, aviation security, and the development of international standards together with the International Civil Aviation Organization (ICAO).
UTair Airlines takes an active part in the activities of the Russian Association of Air Transport Operators (AEVT): UTair General Director Andrey Martirosov holds the post of Chairman of the Board of AEVT, and key airline executives serve 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 programs of international organizations, primarily the UN, and on the basis of direct commercial contracts, in particular, with the Forest Fire Fighting Association of South Africa, Airborne Energy Solutions (Canada), and the Government of Canada.
In its main areas of activity, UTair occupies 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 volatility markets.
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 included in the group structure by:
· consolidating the following management system in the statutory documents of subsidiaries and affiliates: General Meeting of Shareholders/participants - Board of Directors/Supervisory Board - sole executive body;
· restrictions on the powers of the sole executive body to carry out major transactions;
· election of UTair representatives to the management and control bodies of subsidiaries and affiliates;
· implementation of unified business planning processes and a unified format for quarterly and annual reporting;
· participation of key managers of UTair in the work of governing bodies of subsidiaries and affiliates (directives for voting on key issues are developed agenda general meetings of shareholders/meetings of the Board of Directors).
Passenger Transportation
UTair is one of the top five 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 operate about 180 scheduled passenger flights to more than 100 destinations. The company creates 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 connections and distributing passenger traffic not only through Moscow, but also through large regional airports.
The airline's priority areas of activity 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 Airlines in the field of passenger air transportation include:
· operation of modern fuel-efficient aircraft such as ATR-42/72 and Boeing;
· highly qualified aviation personnel and our own Personnel Training Center;
· effective system of sales of services in Russia and abroad;
· developing interactive booking system via the airline's website and by phone.
Geography of passenger transportation:
Regular flights operate
to 70 destinations in 8 countries
Charter flights are carried out to 19 countries around the world
Helicopter work
UTair Airlines is the largest helicopter operator in Russia and one of the leaders in the global helicopter business.
The airline's helicopter fleet includes 200 aircraft, including more than twenty of the world's most load-bearing Mi-26 helicopters, capable of transporting cargo weighing 20 tons inside the fuselage and on an external sling.
UTair helicopters perform work under both commercial and 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 a strategy of active business expansion into international markets.
UTair performs the bulk of helicopter operations in Russia in the northern regions of the country, as well as within the administrative borders of the Ural and Siberian Federal Districts. The helicopter market in these regions is characterized by a relatively high concentration of enterprises with the financial capacity to attract aviation for their own needs. The main types of services provided by the airline are transportation of people and cargo in the interests of oil and gas industry enterprises in the Russian Federation. Among the customers of aerial work on helicopters, the leading place is occupied 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 Airlines 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
The UTair company provides airport services, repair and maintenance of aircraft, service support for its own flights, training and education of personnel, and sales of air transportation.
Airports
The airline continues to intensively develop airport activities, including ground handling of Russian and foreign-made aircraft, reception and dispatch of passengers, mail, cargo, aircraft maintenance, operation of air terminals, airfields and other ground facilities.
UTair owns and operates six airports of regional importance, including: in the city of Noyabrsk, in the villages of Berezovo, Igrim (Khanty-Mansiysk Autonomous Okrug), Cape Kamenny, Tazovsky (Yamalo-Nenets Autonomous Okrug) and in the city of Ust-Kut ( Irkutsk region). To support small aviation flights, the airline operates 15 assigned landing sites in the Tyumen region. The airport activities of all UTair branches are certified.
The airline's strategic goal in the field of airport activities is to increase the economic efficiency of the business and improve passenger service by updating and modernizing infrastructure facilities and technological systems.
Maintenance and repair (MRO)
The main objectives of the MRO business are to ensure stable, uninterrupted, safe operation of the airline's aircraft that meets international standards, as well as providing 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 Tyumen region, Khanty-Mansi Autonomous Okrug-Ugra and Central Russia.
As a result of the restructuring carried out at UTair, the maintenance and repair of aircraft equipment is carried out by subsidiaries certified for the relevant types of work: -Tekhnik, -Engineering, -Express.”
-Technician"- one of the largest centers in Russia for aviation equipment maintenance and repair, which carries out 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), - major renovation Mi-8, Mi-8MTV, Mi-8AMT, Mi-2 helicopters, An-2 aircraft and their components, as well as modification, improvement of the interior, repair and restoration work in the conditions of operating enterprises.
The structure of UTair-Engineering includes a technology 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 line stations, also part of the UTair-Engineering structure, perform 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, the Tyumen and Irkutsk regions, and the Krasnoyarsk Territory provides maintenance of UTair aircraft and other aircraft operators.
-Express" carries out:
Ensuring and improving airworthiness procedures for a large fleet of Tu-134 aircraft at the final stage of their operation, which includes issues of maintenance and repair, individual determination of service life and certification of an aircraft copy, timely provision of their operation with units and components;
Maintaining the airworthiness of the existing An-24 fleet.
The airline's Technical Directorate, UTair-Technic, UTair-Engineering, and 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 provision
The branch of UTair airline ZapSib-Catering is a large service operator, one of the leading manufacturers of in-flight catering in Russia.
The main activities of the branch include:
· production, storage and delivery of in-flight meals to aircraft,
· maintenance of aircraft, including external washing, internal cleaning, soft assembly,
· picking and delivery printed products 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 allows them to prepare tasty and high-quality food for passengers on their own flights and flights of other air carriers.
The branch constantly strives to improve the level of passenger service, using advanced methods from in-flight catering departments, service support services of other airlines and airports in Russia. ZapSib-Catering cooperates with in-flight catering shops at Moscow Vnukovo and Domodedovo airports, as well as at the airports of Samara, Krasnodar, Anapa, Omsk, Ufa, Kazan, Novosibirsk, etc.
Personnel training
Maintaining and increasing the level of flight safety, regularity and quality of service provided is largely determined by the presence of highly qualified personnel. That is why the priority tasks of the management of UTair Airlines include the implementation of a targeted personnel policy, built on the principles of constant and regular improvement of the level of professional training of employees. For this purpose, the Group structure operates non-commercial partnership"Personnel Training Center" (NP TsPP) is a non-governmental educational organization of additional vocational education aviation personnel, which has a license for a wide range of types of training for flight crews, engineering and technical personnel and other aviation specialists. NP TsPP is one of the largest civil aviation training centers in Russia and has an extensive database of information materials, training simulators and premises that allow for full theoretical and practical training of students. Teachers have higher education, rich experience in production, command and flight work, many years of teaching experience. NP TsPP is the only civil aviation training center in Russia that includes a flight training squadron, the instructors of which have extensive experience in flying on domestic and international airlines.
Sales of air transportation
The sale of transportation and services of UTair airline is carried out by the sales of transportation and services (CRPU). This 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, the CRPA has grown from a small agency into an extensive network of branches and offices, numbering 149 points of sale of air tickets in 68 cities and towns. The full 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 Transportation and Services Sales Center sells tickets for flights of UTair Airlines, other airlines in Russia and the CIS countries, as well as leading airlines in the world. In addition, CRPU provides the full range of services in the aviation services market:
· registration of transportation of baggage and cargo for UTair flights, as well as for regular flights of airlines in Russia and the CIS countries;
· concluding agreements with legal entities for the purchase of air tickets non-cash payments ;
· provision of services for pre-payment of the cost of air transportation in one city with subsequent receipt of an air ticket in another city;
· sale of air tickets by bank plastic cards VISA, MasterСard, American Express, air tickets on credit;
· booking seats on UTair flights, placing seats on air tickets with an open date;
· issuing air tickets under interline agreements of UTair airlines for custom and charter flights;
· delivery of air tickets in Tyumen, Noyabrsk, Nizhnevartovsk, Khanty-Mansiysk, Ufa, village. Tazovsky.
· Mastering new types and increasing the efficiency of helicopter operations by increasing the use of light helicopters.
Helicopter work abroad
· Strengthening our position among the leaders in the global helicopter operations market.
· Integration into the global helicopter community through unification of standards and technologies and cooperation with global helicopter operators.
· Increasing our 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 support 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
· Increasing the efficiency of the airports that are part of the UTair Group.
· Introduction of effective modern technologies for servicing passengers, aircraft and cargo.
Aviation repair and maintenance
· Expanding the scope of provision of MRO services for aircraft operated not only by UTair Group, but also by third-party airlines.
· Certification for compliance with international requirements (JAR, FAR), introduction of standards according to ISO-9001/2000 and technical regulations.
Catering
· Expanding the scope of providing catering services not only to UTair Group companies, but also to third-party air carriers.
· Strengthening our position among the five largest in-flight catering suppliers in Russia.
6. Performance analysis
High prices for aviation fuel in the first half of last year and the global financial crisis had a serious impact on the global air transportation industry. After the first profitable year for the airline industry in the last seven years in 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: global cargo transportation in December compared to the previous year decreased by 22.6%, passengers - by 4.6%. According to the IATA forecast, updated in March 2009 This year, losses in the global air transport industry will exceed $4.7 billion with fuel prices at $50 per barrel. At the same time, passenger traffic will decrease by 3%, the volume of freight traffic will decrease by 5%, and profitability will decrease by 3%. Air carriers' direct revenue 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, which is explained by a sharp drop in prices for aviation fuel.
In 2008, Russian airlines transported 49.8 million people (an increase of 10.4% compared to 2007). Passenger turnover also increased by 10.4% to 122.6 billion pkm. 779.4 thousand tons of cargo were transported (an increase of 6.4%). The volumes of regular and irregular transportation increased at a similar pace.
Russian airlines transported 779.4 thousand tons of cargo in 2008, which is 6.4% more than the previous year; freight turnover increased by 7.8% to 3.7 billion tkm. The volume of cargo transportation on international routes increased 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 general increase in transportation volumes was largely due to the results of the industry in the first half of last year. According to the results of the first six months, the increase in the number of passengers transported by Russian airlines amounted to 21.9%, cargo and mail – 27.5%. By this period, the intensive increase in prices for aviation fuel reached its maximum.
The share of aviation fuel costs in the operating costs of most Russian airlines began to exceed 60-70%. More than half of Russian airlines' flights, carried out on fuel-intensive, domestically produced aircraft of the previous generation, were far below the profitability line. By the end of the summer, many airlines had significant debts to fuel refueling complexes at airports. As a result, the latter stopped their service, which led to massive long flight delays 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 in September last year: in September, the total growth rate of passenger traffic of Russian airlines amounted to only 3.6%, in October 0.8%, in November a decrease of 6.5% was recorded. , in December the drop was 12%.
6.1. Passenger Transportation
The year 2008 for Russian airlines carrying out passenger and cargo transportation, despite the negative expectations associated with rising aviation fuel prices and the developing financial and economic crisis, can be considered generally successful. According to the Transport report clearing Chamber (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 growth rates, in the 3rd quarter there was a slight slowdown, and in the 4th quarter of 2008 there were downward trends compared to the same period of the previous year.