|
The board of Russian flag carrier Aeroflot has recommended a 2008 dividend, but has revised this year's budget to account for falling passenger numbers, the state-controlled company said on Wednesday.
La direccion ejecutiva de Aeroflot ha recomendado un dividendo para el 2008, pero ha revisado su presupuesto del 2009 para contrarestar la caida en el numero de pasajeros. "Taking into account the financial results for the 2008 financial year, the board of directors recommends that the general shareholders meeting pays out dividends," Aeroflot said in a statement without specifying the size of the pay out.
The board, which met on Tuesday, had been expected to consider a pay out of RUB700 million – 64% less than the dividends on 2007 results.
The company, in which the state holds 51%, posted a 2008 net profit of 6 billion roubles according to Russian accounting standards, broadly in line with the previous year.
Aeroflot said that in the first few months of 2009, its passenger numbers fell by 14.2%.
Russians have been tightening their belts as the country enters its first recession in a decade, with millions losing jobs, or facing cuts in salaries and working hours.
"The board of directors has approved the management's proposal to correct Aeroflot's production plan and budget for 2009 due to falling demand for air transport at a time of the global economic crisis," the company said, but
gave no details.
Late last year, Aeroflot forecast that profits would rise to a record RUB9.3 billion in 2009.
The company said its cargo division was no longer profitable due to a 30% fall in freight, and that possible outcomes for the division include its liquidation through bankruptcy.
Aeroflot has not yet taken the decision on the possibility of acquiring a stake in German airline Blue Wings from businessman Alexander Lebedev.
Aeroflot said, "The board of directors decided to continue the study on the rationale of acquiring this airline.”
Lebedev, an ex-KGB agent who also owns around 30% of Aeroflot, has offered the firm his 49% stake in Blue Wings for a nominal EUR1.
Analysts say the deal would give Aeroflot cheap entry into the European market after years of trying. (c) Centre for Asia Pacific Aviation. Date posted: 13-May-09
|
Aeroflot plans to amend 2009 production plan and budget 
