OREANDA-NEWS. Aeroflot (Moscow Exchange ticker: AFLT) announces the results of a Board of Directors meeting held on 31 July 2015 by absentee voting. The meeting was the first held by the new composition of the Board of Directors elected at Aeroflot’s Annual General Meeting of Shareholders on 22 June.

The Board re-elected Kirill Androsov to serve as its Chairman. Alexey Melekhin, Deputy Director for Property Management, was re-elected as Executive Secretary to the Board of Directors.

The meeting’s agenda included the following items:

Sale of one Airbus A320 and three Airbus A321’s. The Board of Directors approved a number of transactions for the sale of these aircraft. Their withdrawal from the fleet and replacement by new aircraft currently on order will help reduce the average age of Aeroflot’s fleet — currently already among the youngest of any major airline worldwide at 4.2 years. The four Airbus aircraft being disposed of are all 11 years old.

Sponsorship of Russian sports clubs. The Board of Directors approved a motion to sponsor the CSKA football and basketball clubs for the 2015-16 season, based on previous successful experience of working with these clubs.

Transfer of exclusive branding rights to Aurora and Pobeda. Unique brand styles for both subsidiary airlines were created by Landor Associates GmBH under an order from Aeroflot. Aurora and Pobeda will now receive from Aeroflot (the original rights-holder) full and exclusive rights to the brands. The Board of Directors approved the relevant transactions.

Representative (agency) services for Orenair. The Board of Directors approved a transaction to use Aeroflot resources to provide representative (agency) services for Orenair at airports in Perm, Tyumen, Ufa and Volgograd. Establishing representative offices for subsidiaries in locations where Aeroflot already has its own offices was deemed unnecessary for the purposes of maintaining a low cost-base for Aeroflot Group.

Subsidiaries and representative offices. The Board of Directors approved motions to disband Aeroflot’s representative offices in Ulan Ude and Dnepropetrovsk.

Transactions to optimise Aeroflot’s current loan portfolio were also approved.