OREANDA-NEWS. October 2, 2012. UTair Group top management held a development strategy briefing at the Moscow office of Surgutneftegaz attended by some 40 analysts from the largest financial corporations, investment funds and banks in Russia. At the event UTair CEO Andrey Martirosov, Financial Directors Igor Petrov and Ruslan Gabdulkhakov, the Deputy Chairman of the Board of UTair Airlines and the CEO of Surgutneftegaz non-pension fund presented UTair financial statements for the first half of 2012, discussed plans for further development of the company and answered key questions posed by the investment professionals in attendance.

“Over the past 3 years UTair’s passenger turnover has doubled, growing from 6 bln PKM to 12 bln PKM,” noted Mr. Martirosov. “The company has consistently shown one of the highest passenger carriage growth rates in the industry.” Martirosov contended that UTair maintained the right mix of three factors critical to success – a reliable shareholder, Surgutneftegaz, who has always had faith in the company, a unique strategy for the development of passenger transport and helicopter services, and a highly professional top-management team. Surgutneftegaz owns a 60.75% in UTair Aviation.

Speaking about strategically important segments for the Group, Mr. Martirosov made it clear that to guarantee coverage within the Russian route network in the mid term from 2013 to 2016, UTair intended to enter the long haul transport segment. To support this, he further stated that UTair intended to, “build a hub in the eastern part of Russia in from 2015 to 2020.”

UTair Financial Director Igor Petrov summarized the result of the Group’s activity for the last 6 months of 2012. UTair aircraft transported about 4 mln passengers, helicopter operations achieved 75,000 flight hours, amounting to 41% and 27% growth respectively over the same period in 2011. Revenue increased by 40% to 31.25 bln rubles. EBITDA increased by 75.5% by 9.23 bln rubles with a margin of 29.5%. In addition, he remarked that during the accounting period UTair made two large deals with export-import companies for the purchase of new ATR72-500 and Boeing 737-800 aircraft, the latter outfitted with next generation Sky Interior.

Deputy Chairman of the UTair Board of Directors Ruslan Gabdulkhakov remarked on the continued interest that Surgutneftegaz has in the dynamic development of UTair. “Together with the management of UTair, we will make every effort to realize this,” he reassured those present. He reminded those present that UTair shares had been included on the A-level quotation list on the Russian Stock Exchange and that UTair had achieved sufficient capitalization to be included among the leading 15 BRICS airlines. “We support the strategic objectives of UTair – growth in capitalization, assuming the second place in the passenger transport segment and maintaining leading positions in helicopter transport,” he said in conclusion.