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Shares of the day: November began for Aeroflot papers with a takeoff (November 1, 2022)

The papers of the Russian air carrier Aeroflot became the leaders of the trades. During the session on the Moscow Exchange on Tuesday, November 1, securities rose by +2.84% to 26.08 rubles apiece.

The growth was due to several factors. Interest in air transportation may grow after the reduction of the tax burden in the tourism industry. The President of the Russian Federation Vladimir Putin gave the corresponding instruction to the Cabinet. Thus, it is proposed to establish a zero VAT rate for tour operators and organizations providing hotel services.

The Association of Tour Operators of Russia (ATOR) expects that by the end of the year, airfare for travelers will begin to decline, as flights, including those abroad, will be more frequent. Especially to Turkey, Vietnam and Thailand. Aeroflot has already restored flights to Bangkok and Phuket at the end of last week.

“Aeroflot quotes are growing supported by the news about the completion of the transition to the domestic booking system. Another positive driver was the maintenance of the company’s forecast for 2022, which involves the transportation of 100 million people. From January to October, this figure was 80 million: 66 million passengers on domestic routes and 14 million on international routes,” said Vladimir Chernov, analyst at Freedom Finance Global.

The Moscow Exchange Index by the end rose by +0.36%% to 2174.35 points. The RTS index rose by +0.59% to 1118.19 points. As of 21:00 Moscow time, Brent crude stood at $94.8 per barrel (-2.14%). The Russian currency strengthened – 61.24 rubles. per dollar.

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