President of Russia Vladimir Putin: Mr Alexandrovky, I reviewed the materials ahead of our meeting. I can see that, overall, the company performed well last year, with solid results. Passenger traffic was up, not significantly, but still up. Seat occupancy increased, and so did the profit margin. Overall, the financial position is sound.
I would like to discuss this in more detail and hear your assessments. After that, I would like you to report on the condition of the aircraft fleet and on social programmes.
Please go ahead.
Aeroflot CEO Sergei Aleksandrovsky: Mr President,
I would like to report on the Aeroflot Group’s performance in 2025. One of our key objectives was to maintain passenger traffic at the 2024 level, which we did. As a group, we carried 55.3 million passengers. Seat occupancy has also increased by 0.6 percentage points to 90.2 percent which is a historically high figure for Aeroflot. The average annual level for our business model typically stands at 82–85 percent, whereas we are now operating at over 90 percent of seat occupancy.
Overall, under the circumstances and taking into account the specifics, including maintaining serviceability, the group is operating at maximum capacity.
Increasing the company’s capitalisation is another priority. In this regard, we focus greatly on financial performance. By the end of 2025, revenue stood at around 900 billion rubles, representing an increase of approximately 5 percent compared to the year before.
I would also like to note that, for the first time since 2019, Aeroflot paid dividends in 2025, having posted a net profit (also for the first time since 2019). Dividends were paid based on the 2024 performance. We plan to propose dividend payments to shareholders for 2025 as well.
Vladimir Putin: This will immediately boost the company’s value and appeal.
Sergei Aleksandrovsky: You are right. Enhancing capitalisation is among our top priorities as well.
As for the aircraft fleet, the total number of aircraft is 352, including three operated under a wet lease agreement.
The serviceability of the aircraft fleet remains at an optimal level, comparable to 2019, despite ongoing constraints affecting airworthiness maintenance. This has allowed us to achieve strong operational performance, with total flight hours exceeding one million across the fleet. From 2023 to 2025, the average annual growth rate reached 8.9 percent. This performance is supported in part by the high calibre of our engineering staff. Our subsidiary, Aeroflot Technics, employs approximately 2,000 engineers and has the capacity to service up to 19 aircraft simultaneously in its hangars. This integrated approach ensures the efficient operation of the fleet.
I would also like to highlight the development of our regional operations and overall route network. In 2025, the network structure remained largely unchanged, with a greater focus on increasing frequencies on existing routes.
The balance between international and domestic traffic was broadly consistent with 2024: we carried 42 million passengers on domestic routes and 13.4 million on international routes.
One of the new routes we actively developed in 2025 was Nha Trang, Vietnam. We launched flights not only from Moscow but also from several regions across the Russian Federation.
In line with your priority of increasing the share of flights bypassing Moscow to at least 50 percent, Aeroflot Group achieved 63 percent in 2025. In total, our network comprises 297 routes, 186 of which operate bypassing Moscow, significantly improving transport accessibility for residents in the regions.
With regard to our key operating bases, Sheremetyevo Airport remains our primary hub. It is not only the leading airport in the Russian Federation but also among the leading airports in Europe, supported by advanced infrastructure and a well-developed IT platform. Our close operational integration at Sheremetyevo further enhances efficiency and supports our core activities.
We also continue to develop our Krasnoyarsk hub.
Vladimir Putin: It is increasingly developing as a hub, correct?
Sergei Aleksandrovsky: Yes, Krasnoyarsk is steadily growing. In 2025, we increased traffic there by 10 percent, and together with Moscow-connected flights, we carried approximately 2.4 million passengers through Krasnoyarsk. The hub currently serves 34 destinations.
The resumption of flights to the previously closed southern airports of Gelendzhik and Krasnodar was another landmark event in 2025. In 2025, we used these airports to carry 500,000 passengers. From Krasnodar, we operate flights to 13, including five international, destinations. In 2026, we plan to increase passenger traffic through these airports to 1.5 million, thus tripling the 2025 number. Importantly, though, these airports opened closer to mid-year in 2025.
One of our key priorities, including under our strategy to 2030, which was updated in 2025, is, of course, engaging with personnel, namely, enhancing employee satisfaction and involvement, which directly affect productivity and service quality. In terms of productivity, we have achieved strong results, reaching around 7 million seat-kilometres per employee, with an average annual growth rate of 17.8 percent in 2021–2025.
Vladimir Putin: Wages are rising as well, correct?
Sergei Aleksandrovsky: The average salary increased by 26.9 percent in 2025. We started doing this primarily for operational staff back in 2024 and continued in 2025. So this represents solid growth. The average salary at Aeroflot now stands at around 270,000 rubles.
Vladimir Putin: That is mainly due to flight crew salaries, correct?
Sergei Aleksandrovsky: You are right. Pilots’ salaries are the highest among our staff and significantly affect the overall figure.
As I mentioned earlier, the Aeroflot Group’s strategy was updated in 2025. The main priorities include operational growth and financial sustainability, with passenger traffic growth primarily driven by fleet expansion. We plan to expand the fleet through the introduction of new domestically produced MS-21 aircraft.
Client-centricity and improving service quality is another focus area. While Aeroflot has traditionally maintained high standard in this regard, we will continue raising it.
And, of course, digital transformation and the introduction of innovative technologies. We have set ourselves an ambitious goal of incorporating AI into up to 50 percent of the corporate business processes.
Vladimir Putin: What does “improving the client experience at every stage of the journey” actually mean? What does “improving the client experience” mean?
Sergei Aleksandrovsky: We have broken down our clients’ travel experience step by step starting from the ticket search to the time the passenger is on board. There are certain areas where we can still do better. We identified these growth points and will work on them to achieve an average Net Promoter Score (NPS) of 75 percent. That is a very high benchmark. We are currently at around 72 percent, and each additional percentage point at this level is significantly harder to achieve. We will continue working towards this end.
In 2025, we also saw an increase in the number of minor passengers aged 2 to 12, partly due to the introduction of a standardised 50 percent discount. The number of children transported within the borders of the Russian Federation rose from 2 million to 2.4 million. After all, they are our favourite passengers.
Vladimir Putin: Do you think people were responsive to this?
Sergei Aleksandrovsky: Yes, they were. I believe it was the key factor behind the higher number of passengers in this age group.
In keeping with tradition, I would like to conclude my report with the flat-fare programme for 2025. Last year, with your approval, we made slight adjustments to the fare structure and expanded the number of cities in the Far East served by the programme. In total, 2.3 million passengers travelled under the flat-fare scheme, including 1.5 million on Far Eastern routes. This represents a 12 percent increase compared to 2024, once again reaffirming the programme’s effectiveness.
Vladimir Putin: Good.
Sergei Aleksandrovsky: I would also like to express my gratitude to Chairman of the Board of Directors Vitaly Savelyev and to the Minister of Transport, with whom we maintain very close working contact, both on strategic matters and even on day-to-day operational issues.
Vladimir Putin: Overall, the Aeroflot Group feels confident. Are you satisfied with last year’s results?
Sergei Aleksandrovsky: We always strive to improve, but overall, we are satisfied with how we concluded the year.
Vladimir Putin: This programme you mentioned, which focuses on identifying areas for improvement and analysing the entire work chain, from ticket search to onboard service, encompassing everything related to passengers, baggage, and service quality, is certainly very important. It is essential that this work continues.
Sergei Aleksandrovsky: Yes, it is an ongoing process, and passengers clearly appreciate these efforts.
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