OREANDA-NEWS. On 06 July 2009 was announced, that the annual general meeting of UTair Aviation, JSC (UTair Aviation) shareholders was held in the city of Khanty-Mansiysk.

At the meeting the Company shareholders approved the annual report, the annual financial statements and the profit and loss statement for the year 2008, distributed the profit for the year 2008, as well as made the decision on allocation of more than 23 million roubles of dividends to UTair Aviation shareholders.

Based on the results of the year 2008, UTair Aviation is one of the five leading Russian air carriers in terms of the number of transported passengers, the largest Russian helicopter company and one of the leaders in the world helicopter business. According to the data of the annual report for the 12 months of 2008, UTair Aviation carried 3 million 225 thousand passengers thus exceeding the corresponding 2007 figures by 12,2%. The Company’s passenger turnover made more than 5 billion passenger-kilometers which is by 12,5% more than in 2007. In 2008 UTair helicopters flight time totaled to 79 280 flight hours which made a 11% rise in comparison with 2007.

UTair Aviation, JSC (UTair Aviation) revenue from its major business activities in 2008 was 32 billion 994 million rubles which exceeds the 2007 figure by 50,9%. According to the financial indicators of the 2008 annual report, the Company’s net profit totaled to more than 75 million rubles.

Notwithstanding the global financial crisis, the Company managed to accomplish its production tasks which had been set for 2008. UTair Aviation actively developed its route network: it launched scheduled flights from Moscow to Baku, Krasnoyarsk, Palanga, Nizhnekamsk, Krasnodar, Volgograd, Magnitogorsk, as well as from St. Petersburg to Archangelsk and Yekaterinburg. In accordance with its fleet modernization program the Company started to operate nine Boeing 737-500 aircraft, whereas the fleet of regional ATR-42 aircraft increased and currently totals 12 aircraft. UTair also started to operate ATR-72 aircraft with increased passenger capacity. Moreover, the Company entered into agreements with helicopter manufacturers: it signed an agreement with Eurocopter for delivery of new EC 175 helicopters and an agreement with “Ulan-Ude Aircraft Plant” JSC for delivery of 40 Mil-171 helicopters.

In 2008 the Company successfully underwent IOSA audit (IATA Operational Safety Audit) and based on the results of the audit it became a member of International Air Transport Association (IATA). Thus, UTair proved its compliance with high international standards.

At the annual meeting new Supervisory board and Auditing Commission members were elected. Mr. Andrey Martirosov who has been the head of UTair Aviation since 1999 was elected the Chief Executive Officer for the seventh time.

The shareholders appointed the Company auditors for 2008: Rosexpertiza Ltd. to be responsible for the audit of financial and business operations of UTair Aviation JSC for compliance with the legal acts of the Russian Federation, and KPMG ZAO – for compliance with the international accounting standards. Furthermore, the annual meeting approved participation of UTair Aviation in the Helicopter Industry Association (HIA), a non-profit company uniting all leading helicopter manufacturers and operators in Russia.

In 2009 UTair Aviation continued its fleet modernization program and route network extension. During the current year the Company is planning to introduce 15 new flights. Popular flights from Moscow to Novosibirsk, Omsk, Barnaul have already been launched, flights from Moscow to Irkutsk, Murmansk, Mineralnye Vody, Krasnodar, Rostov have been resumed and a new international flight form Samara to Tel-Aviv has been introduced. In the course of 2009 Boeing 737 aircraft fleet will be enlarged up to 16 aircraft and ATR fleet up will increase to 17 aircraft. In 2009 the Company is planning to increase the number of transported passengers up to 3,8 million people which is by 15 % more than the corresponding figure of 2008. The Company’s helicopter business strategic objectives are to increase the scope and geography by means of the promising regions (South American countries, countries where the Company has its affiliates - UTair South Africa, UTair India and UTair Europe, as well as the Russian Federation regions, namely the Republic of Sakha (Yakutia), Irkutsk Region, Krasnoyarsk Region).