The Moscow Stock Exchange saw a 10 percent slide in the price of Aeroflot’s shares after the report on a change in flight routes over Ukraine, says Vedomosti.
By 4.50 pm, the price dropped to 53 roubles, a new low since September 2013.
The shares later recovered to 54.46, regaining some of the losses.
• In 2013, Aeroflot, Russia’s largest airline, carried 20.9 million passengers (18.4 percent up on 2012).
• Aeroflot’s fleet, which is among Europe’s most modern, youngest and fastest growing, consists of 146 aircrafts, with its backbone formed by modern Airbus A320-family, A330, Boeing B777 and Sukhoi SuperJet-100 airliners.
• The Russian Government owns 51 per cent of Aeroflot.
• JSC Aeroflot – Russian Airlines shares are traded on the Moscow Stock Exchange (MICEX) under the symbol AFLT.
• For 9M 2013, net profit of Aeroflot Group rose 84.1 percent to $545.2 million according to IFRS. Operating profit has virtually doubled to $849.8 million. Aeroflot Group's revenue increased by 16.8 percent and totaled $7,03 billion.
The MICEX index, one of the main Russian stock market indicators, nosedived to a new low this March, going back to the May 2012 level, on the news from the OECD, says Vedomosti.
According to the business daily, at 3.54 pm Moscow time MICEX stood at 1258.12 while RTS, another key indicator, dropped 1.3 percent to 1085.85.
Among the worst hit are Sberbank (-3.08 percent), Rostelecom (-3,46 percent), FSK UES (-3.31 percent), Inter RAO UES (-6.33 percent).
OECD, the Organisation for Economic Co-operation and Development, announced it has suspended Russia’s accession process. The decision was made by the organisation’s board of directors at a meeting on Wednesday, March 12, 2014.
At the same time, the statement said the Paris-based body will intensify cooperation with Ukraine.
The move comes amid heightening tension between Moscow and the West that has threatened Russia with sanctions over its Ukraine policy.
Author: Mikhail Vesely