Volga-Dnepr Group / Press-center / Media Coverage

Volga-Dnepr Grows 55 Percent

04/25/2007

Volga-Dnepr Group of Russia, which operates outsized project cargo services and a scheduled 747 freight airline, increased sales 55 percent in 2006. Revenue reached a record $725 million, the company said.

The company credited expansion of AirBridge Cargo Airlines and development of the Group's air charter transportation business with the increase in income.

During the year, Volga-Dnepr's AN-124-100 air charter business grew by 26 percent. The IL-76 cargo operations grew 114 percent. Revenues from scheduled cargo operations rose by 96 per cent.

Volga-Dnepr Group forecasts that sales in 2007 will reach $1 billion.

In 2006, the Group transported more than 155,000 tonnes of cargo, making Volga-Dnepr Group the number one cargo carrier in Russia. AirBridge Cargo's fleet grew to four Boeing 747 freighters in 2006. In March, Volga-Dnepr Group contracted for the delivery of five new long-haul Boeing 747-8 Freighters by 2013. The company has an option for five more with a total contract value of $1.4 billion. In 2007, AirBridge will also take delivery of the first of three B747-400ER Freighters.

"One of Volga-Dnepr's strategic goals is to enter the top 20 of the world's largest airlines by 2015," said Alexey Isaikin, president of Volga-Dnepr Group. "The dynamic nature of the scheduled cargo industry gives us great confidence that our goal is quite possible to reach," he said.

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