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Aeroflot won’t pay dividends to shareholders for 2015

June 27, 13:42 UTC+3 MOSCOW
The company did not pay dividends for 2014 either
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MOSCOW, June 27, /TASS/. The annual general meeting (AGM) of Russian flagship carrier Aeroflot have upheld recommendations of the board of directors and decided not to pay dividends to the shareholders for 2015, a TASS correspondent reported from the company’s AGM.

The board of directors gave the recommendation in late May.

The company did not pay dividends for 2014 either.

The company defines the amount of dividends on the base of its net profit calculated under the International Financial Reporting Standards (IFRS)

According to the company’s report, in 2015 net loss under International Financial Reporting Standards (IFRS) decreased by 2.6 times in comparison with 2014 and totaled 6.494 bln rubles ($99.8).

Kirill Androsov, member of the company’s board of directors, attributed the indicator to the cost of transportation of passengers of Transaero, a carrier that was declared bankrupt.

In its official statement the company said: "The challenging macroeconomic situation had a significant impact on the group’s financial results throughout the year."

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