Feb 15, 2017 - Aeroexpress Sums Up 2016 Operating Results

Aeroexpress Sums Up 2016 Operating Results

Feb 15, 2017

In 2016, 11.6 million people used Aeroexpress services, which is 10.6% less than in 2015, when a total of 13 million passengers were carried. The company’s share in the Moscow Air Cluster’s intermodal transportation market decreased by 1.8% and is now 15.2%, compared to 17% in 2015.

The Domodedovo route remains the most popular, accounting for 5 million people who use Aeroexpress services. This number amounted to 5.8 million last year. The number of passengers who travelled along the Sheremetyevo route increased to 4.4 million people. Aeroexpress transported 2.2 million travellers to and from Vnukovo last year.

It is noteworthy that, last year, Domodedovo and Vnukovo airports reported a 6.4% and 11.8% decrease in their passenger flow correspondingly. The number of passengers travelling through Sheremetyevo rose by 8% in the total transported travellers, compared to 2015.

The factors that led to the decreased passengers flow include an increased number of transit passengers. According to an expert estimate, this type of traveller accounts for about 22%, on average, of the total transportation volume.

The traffic and transport situation in Moscow has improved, resulting in reduced travel time to the airport and has also influenced Aeroexpress operations. One of the positive factors, enabling  an improvement in the tourist market, is the reopening air communication with Turkey.

“The trend towards decreasing passenger flow observed in 2015 continues in 2016. However, the management cost and business process optimization programme launched in 2015 has enabled us to obtain a positive financial result,” says Alexey Krivoruchko, CEO of Aeroexpress.

The company’s revenue during the reporting period amounted to RUB 5,903,000,000, which is 2.7% less than last year. Aeroexpress’ net income in 2016 totaled RUB 1,114,000,000 compared to RUB 1,481,000,000 in 2015. According to 2016 results, EBITDA is RUB 2,333,000,000, compared to RUB 2,575,000,000 in 2015. According to the operating results of 2016, Aeroexpress’ net assets had increased by 28.5% in 2016 from RUB 3,097,000,000 to RUB 5,021,000,000.

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