Vladimir Obyedkov, new CEO of Sibir Airlines

12.05.2009

The new Vladislav Filev’s position in S7 Group is due to the plans to establish a comprehensive transparent holding structure in the Group and to concentrate on the business development and streamlining of the S7 Group undertaking management.

The Board resolved to appoint Vladimir Obyedkov to the position of Sibir Airlines CEO effective May 12, 2009.

“Vladimir Obyedkov has been with the Siberia Airlines already for nine years. it is due to his immense professionalism, experience and knowledge of the airline in combination with his excellent track record in successfully implementing industry best practice processes that has enabled the airline to reach the internationally recognized high standards of operation that have been acknowledged by the auditors of IOSA, the Russian Aviation Authorities and many foreign independent aviation industry observers. I therefore believe that Mr Obyedkov is the best possible person to lead our airline successfully through the challenging times that the aviation industry finds itself in today", said Vladislav Filev, the CEO of S7 Group.

Despite the complex economic situation, general decrease in passenger air travel volumes domestically and internationally, Sibir Airlines is in a very good shape operationally. The aircraft fleet has been successfully upgraded; the network optimized and is now developing fast. New flights have been introduced between Moscow and Surgut, Moscow and Syktyvkar, Moscow and Yakutsk, Novosibirsk and Alma-Ata (Kazakhstan), Moscow and Madrid (Spain) etc.

Efficient cost management policy provided a substantial reduction in the airline expenses. Overhead costs have been cut by 25% which saves over RUB 300 million per year. Additional revenues from selling spare parts and leasing Russian aircrafts, not used by the company any longer, are up to RUB 370 million. The sales efficiency growth will boost the revenue by 2 to 3 % and cut the expenses by RUB 120 million per annum.

Now Sibir Airlines shows the best profitability per one employee at the market - RUB 12.9 million per year. Borrowed funds are just 25% of the airline revenue.

Airline incoming cash flow completely covers its operations, business and loan interest repayment. Foreign currency revenue meets demands for leasing payments.

As of April 30, 2009, during the restructuring of Sibir Airlines bonded loan the 177 bond holders approved to its terms, restructured bonds totaling at RUB 1,859 billion (85% of the total issue*).

"I believe that these changes will not only prove positive to S7 Airlines’ operations, but will allow me to concentrate fully on S7 Group business development, to improve the cooperation between the S7 Group subsidiaries as well as improve relations with domestic and international financial institutions and potential investors and to increase the efficiency of corporate management”, highlighted Vladislav Filev, S7 Group CEO.

The Board of Sibir Airline appointed a new airline management comprised of the following executives:

- Obyedkov Vladimir Nikolayevich, CEO (General Director)

- Nikitin Andrey Valisyevich, deputy CEO for operations with the passengers

- Kulavskiy Valeriy Gennadyevich, deputy CEO for quality and safety, Manager of Safety Inspection

- Kapitanova Svetlana Yuryevna, chief accountant

- Pshenitsyn Vyacheslav Anatolyevich, deputy CEO for transport management and ground handling

- Pshenitsyn Vyacheslav Anatolyevich, deputy CEO for transport management and ground handling

- Chadin Mikhail Mikhailovich, deputy CEO for maintenance

- Martynenko Ivan Grigoryevich, deputy CEO, HQ manager

- Bocharov Igor Ivanovich, Flight Operations HQ manager

Background:

Vladimir Obyedkovwas born in 1956. He graduated the civil aviation flight school (Buruslan) cum laude in 1976 and flew as the first officer then the captain of Yak-40 in Semipalatinsk United Group, Kazakhstan Administration for Civil Aviation. In 1986 Vladimir Obyedkov graduated from Kiev Civil Aviation Engineer Institute. Since 1989 he flew as the captain of Tu-154, Baikal Airlines, and then was retrained to Boeing 757.

Since 1995 Vladimir Obyedkov was in the position of deputy CEO for flight emergency prevention and safety inspection manager in Baikal Airline. 1998 to 2000 he was the COO of OAO Sayany Airlines, Irkutsk.

Vladimir Obyedkov has been with Sibir Airline starting 2000. Throughout the nine years he worked as the manager of Eastern Siberia Branch Flight Group (Irkutsk), Flight Operations Executive (Novosibirsk), and manager for aircraft operation (Moscow). In 2005 Vladimir Obyedkov was appointed deputy CEO for flight operations; starting January 2009 he worked as the deputy CEO of Sibir Airline.

Vladimir Obyedkov has been engaged in passenger airlines operation for over thirty years. Not only does he have considerable experience in flight and aircraft operations, he is also a professional manager.

He is married and has tow children

Mr Vladislav Filev was born in 1963 in a family of a military man. He graduated from Leningrad military engineering cosmic academy and was in the army from 1985 till 1993, in Missile Strategic Troops.

Prior to the Airline, Mr Filev was the Chairman of the Board of Directors of Eurofinance-Novosibirsk, an investment company, and occupied leading positions in other companies.He has been occupying the position of the Director General of Siberia Airlines since 1998. He has been in the Airline's Board of Directors since 1997. On May 12, 2009, he was appointed to the position of the ZOA S7 Company Group CEO.

He is married and has three children now.

 


*Total bond issue of RUB 2.3 billion.


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