OREANDA-NEWS. March 16, 2012. UTair Aviation ordinary shares were placed on the A-1 quotation list on the MICEX Stock Exchange.  UTair shares are listed under the name UTAR

The inclusion of shares on the A quotation list is one of the most important steps in implementing the company's development strategy aimed at increasing its capitalization. To achieve these results the airline is constantly developing corporate governance, expanding the circle of potential investors and improving its transparency.

Since 2002 the company has published its annual consolidated financial statements under IFRS and since 2008 it has published half-year results. According to the approved 2012 business plan, UTair revenues for the current year will increase up to 36%, exceeding 75 billion rubles. The company's operating margin is expected to reach 10.3%.

UTair shares were among the first to be traded on the organized securities market in Russia. Prior to transferring them to A1 list, UTair shares were listed for over 12 years on the MICEX/RTS in unlisted trading status. Over the past 12 months, the airline's capitalization has grown 12.5% ??to 10.4 billion rubles.

The A1 quotation list today includes shares of 28 leading Russian companies. In accordance with the requirements of the exchange, only shares of companies with a capitalization of no less than 10 billion rubles can be included on the A-1 quotation list. A-1 listed shares are further required to have a monthly trading volume of at least 25 million rubles for a minimum of three consecutive months. The main shareholder of an A-1 listed company should own not more than 75% of the company’s shares. The issuer is required to sustain losses for no more than two years out of the last three consecutive years, must publish full consolidated IFRS financial statements annually, and comply fully with the standards of corporate governance.