OREANDA-NEWS. May 29, 2012. The UTair Aviation Board of Supervisors has taken major decisions at its regular meeting concerning the agenda of the next annual general shareholder meeting scheduled for June 27, 2012. The Board approved the agenda as well as key issues for consideration by shareholders at the meeting.

The Board of Supervisors has approved and recommended that shareholders should vote to approve the Airlines’ 2011 Annual Report. The focus for 2011 was strong growth in all performance indicators, many exceeding the industry average. Passenger traffic totaled 6,750,425 passengers in 2011, showing 31.1% YoY growth. The growth in passenger traffic constituted 38.1%, the airline’s aircraft logged 24.5% more flight hours than in 2010.

The UTair helicopter division also demonstrated growth. UTair helicopters logged 139,580 flight hours in 2011, demonstrating 15.3% growth YoY and transported 157,250.4 tons of cargo, demonstrating 11.3% growth YoY.

The Board of Supervisors also approved a recommendation that shareholders at the general meeting should approve 2011 annual financial statements and proposals for the allocation of net income of 261,176 thousand rubles.

Members of the Board of Supervisors at the meeting discussed and approved a report on the first phase of the 2011 UTair Aviation Passenger Traffic Development Strategy. Members also approved a lease agreement for eight Boeing 767-224ER aircraft to be delivered 2012 - 2013. Each aircraft will be equipped with modern navigation equipment, comply with international safety standards and carry up to 250 passengers with a range of 12,000 km. These aircraft will be used on long-haul flights, including those in the Far East.

The Board also considered assessment and recommendations from UTair auditor Rosexpertiza at the end of fiscal 2011. This information will be included on the agenda for the next annual shareholders meeting.