VOLGA-DNEPR SALES VOLUME DOUBLES IN THE FIRST SIX MONTHS OF 2002

24 July 2002. Volga-Dnepr sales volume doubles in the first six months of 2002

In the first half of 2002 Volga-Dnepr Airlines transported 24,000 tons of cargo, more than double the tonnage of the same period last year. Volga-Dnepr's sales volume on the An-124-100 market is US$80.6 million, almost twice the volume for the first half of 2001. The cargo turnover was 3.5 times more at 244,000 tonne/km.

The total volume of An-124-100 international market grew by US$66.6 million in comparison with the first half of 2001 and amounted to US$157.4 million. Controlling 52% of the market Volga-Dnepr maintains its leading position.

This dynamic growth of the global outsize and superheavy air cargo market is caused primarily by the increase in the "extraordinary" segment, which is humanitarian and peacekeeping operations. Growth of Volga-Dnepr's sales volume was greatly influenced by a large-scale programme into Afghanistan.

At the same time Volga-Dnepr's operations for large industrial companies remain on a high level and continue stable growth. This is a result of the efficient enterprise of the company's offices around the world, the airline's reputation for high-quality services and the professionalism of its international personnel.

"Volga-Dnepr Group's first six months results show that the Group's own sales and marketing network is finally formed and functioning efficiently, bringing in new orders and new clients. The efficiency of our own network is proved by the fact that the sales volume exceed the planned figures by 18.5%", said Alexey Isaikin, Volga-Dnepr's Chairman.

Volga-Dnepr's Ilyushin Il-76 sales volume is US$5.5 million for the first half of 2002. Thus, the total sales volume of Volga-Dnepr Airlines for the first half of 2002 amounts to US$86.6 million.

Under a strategic development plan Volga-Dnepr has turned today into an international group of companies with offices and subsidiaries all over the world, including Great Britain, USA and China. Volga-Dnepr is aimed at promoting outsize and superheavy air cargo transport on the international market as a unique product using the outstanding Antonov An-124-100 freighter. The airline leads in market share of international outsize air cargo. The company has nine An-124-100s, one Ilyushin Il-76 and 1,200 employees.