OREANDA-NEWS. A regular meeting of the UTair Aviation Supervisory Board took place on the May 27, 2013. The Supervisory Board adopted the agenda of the Annual General Meeting scheduled to take place on June 27, 2013 in Khanty-Mansiysk. The Board approved the annual report for 2012 and advised the AGM to approve it as well.

The annual report confirms that UTair is one of the leading Russian operators and is a global leader by volume of helicopters operations. UTair has demonstrated stable growth in operational results above the industry average. UTair Group passenger turnover grew by 29.4% YoY over 2011, the Group's fleet logged 16.7% more flight hours than in 2012 and passenger load factor increased by 0.9 percentage points to reach 74.3%. %. By 2016 UTair’s fleet, now consisting of 600 aircraft of different classes and types, will be expanded with an additional 46 aircraft and 96 helicopters, giving UTair the youngest and the most modern fleet in Russia by 2020.

UTair’s main priority is to increase the efficiency of its operations and create a unique product by combining the best practices of networked and low-cost carriers, namely comfort and high quality service at reasonable prices. UTair Group's strategic objective is to strengthen its positions on the leisure travel market by developing more long-haul destinations, adapting the UTair route network to the capabilities of new aircraft in the fleet and creating a full feature airport for low-cost carriers on the base of Yermolino Airport northeast of Kaluga. The key objective in the helicopter segment remains increasing market share in Russia and entering new, high profit markets for onshore and offshore operations for international oil companies abroad. UTair’s goal is to establish itself in the second position among the world's largest helicopter operators by 2014

Members of the Supervisory Board approved the 2012 annual report, including the profit and loss statement and advised the approval of the same by the AGM. UTair revenue from core activity in 2012 reached 72,500,571,000 rubles, representing a 33.9% YoY increase over 2011. Net profit came to 369,894,000 rubles, up 41.6% YoY form 2011. UTair paid out 115,441.60k rubles in dividends. The report recommended paying out dividends at the rate of 0.20 rubles per common share before May 26, 2013.

The Supervisory Board put before the AGM the question of approving transactions made by UTair Aviation with interested parties during the regular course of business activities.

Members of the Board also resolved to appoint Oleg Lysenko, Deputy Director General and Technical Director of UTair Aviation and Oleg Semyonov, UTair President of Commercial Airlines (UTair Aviation) as members of the airline’s Board.