The Board of Directors of PJSC Aeroflot (Moscow Exchange ticker: AFLT) today held a meeting at which Aeroflot CEO Vitaly Saveliev presented an updated Aeroflot Group strategy for the period through 2028.

Under the updated strategy the Group will target 130 million passengers in 2028. The Group’s fleet is expected to reach 600 aircraft, of which 235 will be Russian-built.

The Strategy also calls for additional differentiation among the Group’s airlines in terms of their individual priorities and operating models. Aeroflot will focus on developing long-haul operations.

Pobeda will focus on budget travel and will aim to carry 55-65 million passengers in 2028. Further development of the Group’s low-cost carrier will help significantly reduce average ticket prices for economy-class travel and increase air transport accessibility in Russia.

Meanwhile, Rossiya airline will focus on the Russian domestic market, including flat fares on socially important routes, as well as on operating Russian-built aircraft.

Aeroflot CEO Vitaly Saveliev said “Key aspects of the updated strategy were developed at the end of 2019. Recent developments caused by the coronavirus pandemic showed us that we are on the right track. The updated strategy will make air travel more affordable and increase mobility, providing additional support for Aeroflot Group’s future growth.

“The strategy through 2028 is called 30/30, as it calls for an increase in passenger traffic by 30 million, and a decrease in the average fares for economy-class passengers in Russia by 30%. It is an ambitious goal, but I believe that we can achieve it and put Aeroflot Group among the 10 largest global aviation groups.”