Strong growth in sales spurred by large contracts and cargo market revival (160 words)

Published: 7/19/2000

Volga Dnepr (VD) recorded a strong recovery from the poor first half of 1999 with a 67% increase in sales for the first half of 2000. The recovery of VD's revenues is partially attributable to the general recovery in the cargo market being experience by all cargo operators. Specific to VD, the first quarter brought large contracts for the supply of the UN in Sierra Leone, in addition to ongoing strong business with Lockheed Martin and the delivery of quarrying equipment. VD claims that it recovered some of the share lost to Antonov last year due to the Ukrainian carrier's heavy involvement in the shipping of arms to Angola. According to VD, it now has a 58.2% share in the first quarter, as opposed to 47.3% for 1999, with Antonov's share falling from 42.1% to 34.1%, figures they will no doubt hotly contest.

Article ID: 1952