Aeroflot Group SWOT: Russia's number one on course for 2023

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Aeroflot Group reported an 11.4% increase in passenger numbers for the first eight months of 2019, in line with its target growth rate for the year. The group is on course to achieve its 10th straight year of traffic growth. From 2008 to 2018, its compound average growth rate in passenger numbers was 17.0%.

This was boosted by acquisitions in 2011, but its average over the past five years, based on organic growth, has still been a vigorous 12.2%. Its growth has been resilient to fluctuations in the macroeconomic and geopolitical backdrop in Russia.

Aeroflot has no plans to slow down. Its target to carry between 90 million and 100 million passengers in 2023, compared with 55.7 million in 2018, implies continued growth of approximately 11% pa.

CAPA's analysis of Aeroflot Group's strengths, weaknesses, opportunities and threats suggests that it is well placed to achieve this target.

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