OREANDA-NEWS. On 20 March 2008 UTair announced its financial results for 2005-2006 and the target figures for 2008. The adjusted budget for 2007 was cited as the preliminary results for 2007 in order to compare with the proposed budget for 2008.

These figures do not reflect the operations of UTair Group as a whole. They are based on the airline’s non-consolidated performance under the Russian Accounting Standards (RAS) representing the 2007 budget of the airline as a separate legal entity.

According to UTair Aviation’s preliminary (non-consolidated) financial statement for 2007, its revenue is estimated at RUB 21.9bn (approx. USD930.73m), and its net profit at RUB 410m (approx. USD17.42m).

In 2007, the airline carried over 2.9m people, an increase of 21 percent on the figure for 2006. Its helicopters transported 81,545 tonnes of cargo, an increase of 31.3 percent.

According to UTair’s business plan, in 2008 its aircraft and rotorcraft are expected to log 240,000 hours, which is 20 percent more than the previous year. The airline plans to carry over 4m passengers (34 percent more than in 2007) and introduce 20 new routes. Helicopter services will be provided in Russia and in eleven other countries.