1 cfo of jsc «aeroflot» nikolay a. kouznetsov october 2002 results of activity of jsc «aeroflot»...
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CFO of JSC «Aeroflot»CFO of JSC «Aeroflot»Nikolay A. KouznetsovNikolay A. Kouznetsov
October 2002October 2002
Results of activity of JSC «Aeroflot» for 9 months 2002Results of activity of JSC «Aeroflot» for 9 months 2002
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Target of the company for 2002
• According to the programm of strategy development of the company, target of the company for the year 2002 is an increase of effectiveness of operational activities of JSC «Aeroflot», in particular, striving of achievment the level of the AEA companies
• The result of execution of this target - increase of operational margin of the company
3
Tasks of the company for 2002
Reduction of the operating costs owing to:
• end of utilization of non effective types of aircraft
• close of non profitable routs
• increase of flying time on the effective types of aircraft and as a result increase of specific gravity of such aircraft in company’s traffic
4
Tasks of the company for 2002
Increase of traffic revenues owing to:
• profitable European routs
• increase of income rates
• increase of commercial load factor
• increase of passenger load factor
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Operating results
We can see a reduction of operating values for 9 months of 2002 comparing with the same period of last year:
• Cargo reduced on 8,9% (from 1768,9 to 1611,8 million ton-km)
• Passenger turover reduced on 9,7% (from 15005,8 to 13551,4 million passenger-km)
• Passenger traffic reduced on 8,5% ( from 4624,5 to 4233,5 thousand passengers)
• Cargo and mail traffic increased on 3,5% (from 74370,2 up to 76995,3 tons)
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Hours flight
12 02212 833
15 10815 206
25 69426 841
7 0897 429
29 30729 842
18 317
2 280
11 797
4 810
30 72232 374
17 323
19 280
8 310
3 4141 983
2 298
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
Il-96 B-767 B-737 B-777 А-310 Il-62 Il-86 Tu-154 Tu-134 Il-76 DC-10
9 months 20019 months 2002
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End of utilization of non effective types of aircraft
• Hours flight of non effective aircraft (Il-62, Il-86, Il-76) reduced on 27 920 hours (72,7%)
• Hours flight of non effective aircraft increased on 6 855 hours (4,9%)
• Hours flight in general reduced on 21 065 hours (11,9%)
• Share of traffic executed on such a types of aircraft as А-310, B-767, B-737, B-777, Il-96, and DC-10 is:
- in passenger turnover - 72,0% (in 2001 - 60,2%)
- generally in ton-kilometers - 72,9% (in 2001 - 58,0%)
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Operating costs and cost of 1 ton-km
1 072,6 989,7
-
100
200
300
400
500
600
700
$ m
illio
n
9 months 2001 9 months 2002
Operating costs
-7,7% 60,6 59,5
-
10
20
30
40
50
60
70
80
cent
s
9 months 2001 9 months 2002
Cost of 1 ton-km
-1,8%
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Operating margin of 1 ton-km
60,6 60,6
-0,1
63,959,5
4,4
-10
0
10
20
30
40
50
60
70
cent
9months 2001 9months 2002
Income rate of 1 ton-km Cost of 1 ton-km Operating result of 1 ton-km
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The main factors of operating costs reduction
Operating Costs 9 months2001
(millionUSD)
9months2002
(millionUSD)
% to 2001
Aircraft fuel 275,6 192,3 69,8%
Passengers servicing 58,2 49,5 85,0%
Airport and traffic servicing ofaircrafts
182,9 135,9 74,3%
Support of crew in flight 21,0 16,6 79,2%
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Increase of fuel effectiveness
275,6
192,3
0
50
100
150
200
250
300
9months 2001 9 months 2002
Aircraft fuel costs (million USD)
1 003,7
797,3
0,0
200,0
400,0
600,0
800,0
1 000,0
1 200,0
9months 2001 9months 2002
Aircraft fuel consumption (thousand ton)
567
494
440
460
480
500
520
540
560
580
9months 2001 9months 2002
Specific aircraft fuel consumption (gram/to-km)
-30,2% -20,6%
-12,9%
255,5
224,6
200
210
220
230
240
250
260
9months 2001 9months 2002
Average price of aircraft fuel (USD/ton)
-12,1%
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Passenger traffic revenue
115,2
729,6
115,2
744,2
0
100
200
300
400
500
600
million USD
9 months 2001 9 months 2002
International
Domestic
844,8 859,4+1,7
+2,0
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Revenue rates
183
220
88
195236
93
0
50
100
150
200
250
9months 2001 9 months 2002
TotalInternationalDomestic
5,63
6,10
3,78
6,09 6,65
3,93
0
1
2
3
4
5
6
7
9 months 2001 9 months 2002
TotalInternationalDomestic
Revenue rate of 1passenger traffic (USD) Revenue rate of 1 pkm (cent USD)
Revenue rate of 1 passenger traffic:totally increased on 6,6% on international routs increased on 7,3%on domestic routs increased on 5,7%
Revenue rate of 1 pkm:totally increased on 8,2% on international routs increased on 9,0%on domestic routs increased on 3,9%
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Commercial load factor
51,855,6
64,060,1
53,8 56,4
0
10
20
30
40
50
60
70
International Domestic Total
9 months 2001
9 months 2002
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Passenger load factor
65,5
68,5
74,2 73,5
67,1
69,5
60
62
64
66
68
70
72
74
76
International Domestic Total
9 months 2001
9 months 2002
Average load factor of the companies members of AEA compose 74,1%
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9 months 2002 Operating activity result
1071,2 1072,6
-1,5
1063,1 989,7
73,5
-200
0
200
400
600
800
1000
1200
million USD
9 months 2001 9 months 2002
Operating income Operating costs Operating result