OREANDA-NEWS. July 11, 2012. The Annual General Meeting of UTair Shareholders was held today in Khanty-Mansiysk. Participants approved the UTair annual report, annual financial statements, including the P&L statement, as well as the report from the Audit Commission and UTair auditor reviewing the company’s financial activities in 2011.

As noted in the UTair annual report, the airline demonstrated significant growth in key financial indicators in 2011. According to the financial statements for 2011 UTair revenues amounted to more than 54.12 million rubles, surpassing 2010 revenues by 27.6%. Net profit exceeded 261.2 million rubles, 21.2% more than in previous year.

Positive performance dynamics for other indicators were also noted: in 2011 more than 6.7 million passengers were carried by the company, 30.8% over the previous year. This made UTair a leader in growth among the top Russian airlines. Passenger traffic increased 39.3% in 2011  with a total of 11,119,340 passenger-kilometers. Growth in all indicators has been driven by active development of UTair's route network, with 48 new flights launched in 2011, most from Vnukovo International Airport in Moscow. UTair's modernization program and fleet expansion has also improved the airline's dynamics. UTair received deliver of 40 fixed wing aircraft and 41 helicopters in 2011.

The distribution of dividends was also decided at the annual meeting, with an approved amount of 0.14 rubles per ordinary share. Dividend payments will be paid out from 28.06.2012 to 27.08.2012.

Officers of the UTair Board of Supervisors were also elected:

Ruslan Gabdulkhakov - Executive Director of NPF Surgutneftegaz

Oleg Eremenko - General Director of Invest-Defense

Ilya Larichev - Principal Investment specialist for Securities Management at Surgutneftegaz

Andrei Martirosov - General Director of UTair Aviation

Vyacheslav Novitsky - Advisor to the General Director of UTair Aviation

Sergey Savin - Deputy General Director, Head of Transport Technology, Construction Equipment and the Department of Roads at Surgutneftegas

Sergey Fedorov - is currently not working as a member of the UTair Board of Supervisors

Participants of the Annual General Meeting approved officers for the UTair Aviation Audit Commission as follows:

Julia Klimkova - Deputy Chief Accountant, NPF Surgutneftegaz

Alexander Poymenov - Chief Accountant, Energy Service Company Surgut

Marina Purmak - First Deputy Chief for Finance Department, Surgutneftegas

Rosexpertiza was selected on a competitive bidding basis to serve as the UTair auditor for 2012.