Russia’s Aeroflot Group has finally brought all of its subsidiary airlines to its home base, Moscow Sheremetyevo International, as part of efforts to optimize its network.
Impacted by the COVID-19 pandemic, significant flight restrictions and the suspension of international flights, Aeroflot Group carried 30.2 million passengers in 2020, down 50.3% year-over-year.
Russian airlines carried 69.2 million passengers in 2020, down 46% year-over-year (YOY), according to Russia’s Federal Air Transport Agency, Rosaviatsia.
Russian airline Aeroflot’s net loss for the 2020 third quarter (Q3) narrowed to RUB21.1 billion ($277 million), compared with RUB35.8 billion in the second quarter, helped by demand from its domestic network.
The Russian government on Nov. 18 recommended Mikhail Poluboyarinov, the current CEO of the State Transport Leasing Corp. (STLC), as the new head of Aeroflot Group.
Russia’s largest airline group Aeroflot is to soon receive a massive cash injection from its major shareholder, the Russian government, through a rights issue.
The board of Russia’s Aeroflot Group is expected to adopt a new strategy on July 16 calling for the parent airline to focus on long-haul operations while the domestic network will be left for the two subsidiaries Pobeda and Rossiya.