Deutsche Bank today announced its appointment as depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of Joint Stock Company Aeroflot – Russian Airlines (Aeroflot).
Aeroflot (OTC US: AERZY) is Russia’s flagship airline and the largest national air company. A member of the SkyTeam Global Airline Alliance, Aeroflot with its partnering members provides service to more than 1,000 destinations in 178 countries. Aeroflot operates one of the youngest and most modern fleets in Europe with 143 aircraft, which carried 19.3 million passengers in the first 11 months of 2013 (29.1 million passengers as Aeroflot Group). Aeroflot is the principal company in Aeroflot Group, which also includes five other Russian carriers: JSC Donavia, OJSC Rossiya Airlines, JSC ORENAIR, JSC SAT Airlines and JSC Vladivostok Air. Aeroflot operates through its hub at Sheremetyevo Airport in Moscow.*
Jose Sicilia, Global Head of Global Equity Services at Deutsche Bank, said, “We are delighted to expand our portfolio of depositary receipt programs for Russian issuers to include the Level 1 ADR program for Aeroflot. We will provide Aeroflot, a long-standing client of Deutsche Bank’s Depositary Receipts business, with the customized services it requires to broaden its investor base. ”
*Source: Joint Stock Company Aeroflot – Russian Airlines (January 2014)