Moscow, December 29, 2014 – Transaero Airlines expresses its utmost gratitude to the Government of the Russian Federation, the Ministry of Finance of the Russian Federation, the Transport Ministry of the Russian Federation, the Federal Air Transport Agency and State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” for their financial support.

Transaero Airlines expresses its special gratitude to JSC VTB Bank.

The Government has pledged its support to Transaero, one of the backbone companies of the Russian transport industry; meanwhile JSC VTB Bank will assign the necessary credit funds to the airline during this period of drastically changing macroeconomic conditions.

Transaero, for its part, entirely supports the price freeze principle, and will not increase airfares on its domestic services in 2015. In addition to this, it will reduce airfares by 5-7% on domestic routes that are served exclusively by Transaero Airlines.

In November 2014, taking into consideration the recommendations developed for the airline by the management consulting firm McKinsey & Company, Transaero began to implement a comprehensive set of measures aimed at enhancing its operational efficiency in the rapidly changing current business environment. It is expected that the key measures will be implemented within three to six months.

In 2015, Transaero Airlines will continue to focus on enhancing the reliability and accessibility of air transport for Russian residents. Particular attention will be given to flights to Southern resorts within the Russian Federation (Transaero will increase its passenger capacity on those routes), as well as to air services to Russia’s Far East from Moscow and St Petersburg. The airline will continue to strengthen its cooperation with its long-term partners – in the first instance, with the largest Russian travel operators focusing on tourism programmes to destinations in the South of Russia.

Transaero Airlines expresses its sincere gratitude to all its passengers, as well as partners, banks, leasing companies, airports, fuel companies and suppliers.

Transaero Airlines has been developing, operating and, inter alia, overcoming changing circumstances along with its country for 23 years. The company’s track record to date provides certainty Transaero will successfully overcome the temporary difficulties caused by the current macroeconomic environment.