7 Feb 2018 15:36

UTair planning to double net profit in airplane segment to 1.8 bln rubles

MOSCOW. Feb 7 (Interfax) - UTair Group is planning to double net profit in the airplane sector to 1.7-1.8 billion rubles, UTair - Passenger Airlines President Pavel Permyakov said.

"For the group as a whole we are expecting growth in 2017, this also applies to 2018. In the airplane segment, the result for 2017 was similar to that in 2016. In 2018 we are planning to increase the program 12% and almost doubt the overall positive result; we are planning to achieve 1.7-1.8 billion rubles in 2018," Permyakov told journalists that the NAIS-2018 aviation exhibition.

According to UTair's confirmed business plan for 2018, airlines belonging to the group are planning to increase passenger traffic 12% on 2017 to 8.2 million. Flight time should increase 10.9% to 214,000 hours and the seat occupancy rate - by 3 percentage points to 77%.

UTair is one of Russia's biggest airline groups and has airplane and helicopter segments. Its shareholders include Surgutneftegas , which holds 50.112% via JSC AK-Invest, the Khanty-Mansiysk Autonomous District with 38.83% and Tyumen Region with 8.44%.