Aeroexpress’ Passenger Flow Dropped 10.6% in 2016

Aeroexpress reported passenger transportation drop at 10.6% in 2016 to 11.6 M, the Interfax reports.

“Increased transit passenger volume is among factors that affected our passenger turnover”, Aeroexpress reported. Another factor is improved traffic situation in Moscow - with less traffic jams the time en route to the airport reduced, too.

Aeroexpress believes though that there are positive factors that may help improving passenger turnover - e.g. revival of the tourism industry and, in particular, restore of the airline communication with Turkey.

Aeroexpress’ 2016 revenue dropped 2.7% to 5.903 B RUB (98.3 M USD); EBITDA dropped 9.4% to 2.333 B RUB (39 M USD); net profit (Russian accounting practices) dropped 24.8% to 1.114 B RUB (18.6 M USD).

Aeroexpress is a Moscow airport shuttle provider. The company is owned by TransGroup’s Delta-Trans-Invest (45.84%), OAO RZD (25%), Iskander Makhmudov (17.5%), Andrey Bokarev (7.5%) and Alexey Krivoruchko (4.16%).