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Companies in Airline Sector Report Growth

Transaero may double the dividends paid to shareholders for 2011.

Transaero may double dividends paid to shareholders for 2011 when the company's board of directors votes on increasing the payments to 44 kopeks per share at their June 23 meeting, Interfax reported.

This change would raise the total dividend payout for 2011 to 67.6 million rubles ($2.1 million), compared with 30.4 million rubles paid out for 2010.

The announcement comes following considerable growth for the company, which saw its net profits triple last year to 1.8 billion rubles.

Aeroflot is also preparing to give big payments to its shareholders. The company's board of directors agreed to direct 19.2 percent of its net profits for 2011 toward dividend payments. This would amount to 1.9 billion rubles, or 1.81 rubles per share.

The year was a record one for Russia's largest airline, which carried more than 14 million passengers on its flights and gathered 10.4 billion rubles in net earnings.

Passenger rail service Aeroexpress saw its net profit increase 170 percent to 720 million rubles in 2011, signaling another positive development for companies working with the airline sector.

"The relative stability of Russia's economy in 2011 combined with low inflation increased consumer purchasing power and, consequently, demand for Aeroexpress services," the company told Interfax.

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