Sibir Airlines Increases Sales by 44%


The company’s net profit for the first nine months of 2008 nearly doubled over last year to 157 million rubles. Sibir’s net assets as of October 1, 2008 amounted to 1,433 million rubles, up 43% from last year.

“The airline is showing stable growth in all the financial indicators despite the rise in fuel prices throughout 2008. This is first and foremost due to the increase in the number of transported passengers, optimization of the company’s route network and systematic phasing-out of Soviet-made airplanes from the fleet,” said Ilya Alexandrovsky, S7 Airlines’ Deputy CEO for Finance and Economics.

S7 Airlines (the OAO Sibir Airlines brand) is the largest airline on Russia’s domestic routes and one of the top 50 airlines in the world in this segment.

In 2007 the company received an official notification from the International Air Transport Association (IATA) about the airline’s certification in that organization, becoming the second carrier in Russia to successfully pass the IATA Operational Safety Audit . In October 2008 the certificate was successfully extended to 2010.

S7 Airlines is one of Russia’s most stable airlines, incorporating the latest achievements of the world industry in the servicing of passengers and actively expanding its service. S7 Airlines won the annual national “People’s Brand / Brand No. 1 in Russia” prize in 2007.

* All the financial data are given according to Russian Accounting Standards (RAS).