STLC will receive additional capitalization in 2018 worth RUB 5 bln for purchasing 31 helicopters

20.08.2018

STLC will receive additional capitalization in 2018 worth RUB 5 bln in order to increase the fleet of Russian airlines under the “Civil Aviation and Air Navigation Services” subprogram of the “Transportation system development” state program of Russian Federation. The according Government decree was signed by the Prime-minister Dmitri Medvedev. 

Government decree №916 from August 6th 2018 suggests that allocated budgetary funds will be used to purchase 31 helicopters manufactured by “Russian Helicopters”: 24 Mi-8 helicopters and 7 light multipurpose Ansat helicopters. According to the document, “Russian Helicopters” will deliver 12 Mi-8 helicopters and 3 Ansat helicopters to STLC in 2019, as well as 12 Mi-8 helicopters and 4 Ansat helicopters in 2020. STLC will attract additional RUB 7 bln from the market in order to purchase helicopters.

“STLC’s net income in the first half of 2018 according to RAS was RUB 380 mil compared to the loss of RUB 1,7 bln in the previous year. Revenue for the reporting period has increased by 1,9 times and reached RUB 17 bln. Gross profit doubled and reached RUB 9,1 rub. The sales profit also doubled and was RUB 8,5 bln. Cost of sales grew by 1,8 times and reached RUB 7,9 bln.

Positive dynamics of financial indicators according to a report by RAS will allow STLC to pay out dividends for 2017. According to the order of the Ministry of Transport of Russia, STLC will direct RUB 107,7 bln for these measures.