For almost double growth of its capitalization in 2013 "Aeroflot" will reward managers a solid increase in salary. Between about 70 employees the airline will be distributed 1.13 billion rubles.
The new option program advice «Aeroflot» Directors approved in August of 2013. The airline is dedicated to "unite the interests of the company and its shareholders with the interests of workers", as well as to motivate employees, "have made the greatest contribution" to the development of carrier business. The program is scheduled for 2013-2015.
The monetary prize depends on the dynamics of capitalization of "Aeroflot" on the stock exchange, as well as with respect to competing companies. "Izvestia" a source in the airline's board of directors explained that focuses "Aeroflot" on the level on Turkish Airlines (the third consecutive year, recognizes the best European airline market capitalization of over $ 4 billion).
The total volume of the stock option program is defined as 3% of the growth of capitalization, the money is paid out of net profits. In accordance with the figures achieved in 2013, the total remunerationozhet be over 1.13 billion rubles, follows from the materials of the company. Two-thirds of this sum is planned to pay in 2014, the rest of the - at the end of the entire option program (in 2016). In this case the final decision on the payment will take the Shareholders' Meeting on the recommendation of the Board of Directors, the document says the airline.
The official representative of "Aeroflot" to comment on the stock option plan declined.
Source "News" states that initiated the implementation of a new stock option program has been the main shareholder of "Aeroflot" - the state (51.17% stake). Apply for payments may "most useful" employees among senior and middle managers, a total of about 70 people, he said. How exactly will be allocated bonus, the source publication is not explained, but on average it is 16 million rubles per person.
During 2013 capitalization of "Aeroflot" has increased by 85%, from 50 billion to 93 billion rubles (for comparison, according to results of 2012 the company's value has fallen by 14%). The company entered the top 5 leaders of growth among PatrioticGOVERNMENTAL companies for the year. In November and December the carrier rose in price before our eyes: from 1 November until the end of 2013 "Aeroflot" quotes have increased by half, from 57 to about 84 rubles per share.
First of all, on the "Aeroflot" quotes influenced unexpectedly strong financial statements for the III quarter of 2013, says analyst Raiffeisenbank Constantine Yuminov: In early December, the carrier reported that its net profit for the July-September increased by 88% compared to the same period of 2012. In addition, at the end of October, businessman Alexander Lebedev said that he had sold his shares (4.5%) of "Aeroflot". Businessman repeatedly announced the sale of securities in the market, which would cause the decline of quotations, so its output from the shareholders, investors interpreted positively airlines.
Not bad share price growth preconditions have also the October news: Registration of "Dobrolet» (low-cost- «daughter» «Aeroflot») and an application for handling ADR (American Depositary Receipts) of "Aeroflot" on the New York Stock Exchange. And if on the "DobrolETA "Investors were not unanimous, the launch of the program ADR - definitely positive news for the market, because the promises growth of liquidity of securities aviaperezchika explains Konstantin Yuminov.
- Option - it is an opportunity to capitalize on the growth of the asset. Therefore, from an economic point of view, the program "Aeroflot" - this is an option, but as it does not involved the purchase and sale of shares, the option is not a classic and so-called phantom, - says Edward votes, director of asset management "BCS Premier." - In the West, it is a very common thing. Shareholders interested in the growth of quotations, and they need to be interested and workers so that they, too, were motivated to increase the company's value.
One of the pioneers of "phantom" options in Russia was "Lukoil". rewards program operated in the oil company in 2010-2012, during which time the holding has paid its employees $ 448 million. In the years 2013-2017 "Lukoil" is implementing a similar program. Also, the "phantom" share option programs have adopted the "VimpelCom", "Lenta" and other majordomestic companies.
"Phantom" scheme for "Aeroflot" and its shareholders more profitable, said Konstantin Yuminov. The company has a quasi-shares (5.1% in the "Airport-Finance" structure), but the company intends to use them to further placing on the stock exchange, that is to increase the free-float.