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UTair Aviation shows strong growth

UTair Aviation is one of the five largest Russian airline companies.

During January-July 2007, the company carried 1,593,598 passengers, up 20.8 percent from the same period in 2006. In the same period, mail and cargo volume carried by the airline’s transport aircraft went up by 57.6 percent and 31.3 percent respectively.

Helicopter flying time amounted to 35,399 hours, or 7.2 percent more than in the same period in 2006. The volume of cargo carried by helicopters increased 23.9 percent to 34,006.2 tonnes over the period in question.

Analysts predict that the company will keep such rate of growth till the end of 2007.

Investment company Antanta Capital sets ‘Buy’ recommendation for UTair shares with target price $0,83 for one share ($0.65 on September 19, 2007; 27.7% potential to grow).