OREANDA-NEWS. A regularly scheduled meeting of the UTair Aviation Supervisory Council was held on April 26, 2013. In a session including absentee voting, Council members decided to continue with the previously agreed shareholder program for increasing the capitalization of UTair Aviation. The project aims to increase the equity capital of the company, to earn international credit ratings and to improve the efficiency of UTair activities in key business directions. These measures are in turn aimed at increasing transparency and investment attractiveness of the company and expanding the range of potential investors which will grant UTair access to new financial tools and capital markets.

The Supervisory Council also took major decisions on procedures and the agenda of the Annual Shareholder Meeting scheduled for June 27, 2013, in Khanty-Mansiysk. The final date for shareholders possessing a right to take part in the Annual Meeting to enter the register of shareholders is May 13, 2013. The Supervisory Council approved several interested party transactions related to the delivery of three Bombardier CRJ-200 aircraft previously owned by UTair Aviation to UTair-Ukraine. In addition to these decisions, the Council also approved the sale of UTair Aviation shares bought back from shareholders who raised a buyback demand following the results of a special shareholder meeting of LLC UTair-Development on the 30th November 2012. The transaction cost does not exceed 2% of book value of the assets according to the last accounting statement.

UTair Aviation ranks among the top three Russian airlines. In 2012 UTair aircraft transported 8,582,681 passengers. The airline operates more than 200 fixed wing aircraft and performs flights to 110 destinations in Russia and aboard. The airline maintains its central hub at Vnukovo International Airport in Moscow, from which it performs 100 flights daily.