WOOD Flash – Aeroflot: 2Q21 – strong domestic traffic, Pobeda growing fast, low volumes but high prices in international
Aeroflot posted an encouraging set of 2Q21 figures last week. While overcapacity in the domestic segment continues to affect yields, the pressure is not as strong as we had expected, and pricing in the international segment was exceptionally strong, driven by restricted capacity and excess demand. In terms of volumes, the Russian domestic market continues to post stellar numbers, with RPK nearly 40% above the 2019 level in June. The strong performance of the domestic segment is helping to offset the recovering, but still low, volumes in international flights. Pobeda, Aeroflot’s low-cost arm, continues to expand rapidly, and was profitable in the first half of the year, despite the market-wide pressure on domestic yields.PJSC Aeroflot Russian Airlines is an international air transport company which is engaged in operations in Russia. The principal activity of Co. is the provision of passenger and cargo air transportation services both domestically and internationally and other aviation services from its base at Moscow Sheremetevo Airport. Co. and its subsidiaries also includes activities comprising airline catering, the operation of a hotel and insurance services. Associated undertakings mainly comprise hotel and duty-free retail businesses. The principal business segments are airline operations, airline catering, hotel operations and other.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.