Net profit of Aeroflot Group for 9 Month of 2011 totaled $376.8 mln according to IFRS. That is 36.6% more if compared to the same period of 2010

22 December 2011

 

December 20, 2011, Moscow. – Net profit of Aeroflot Group for 9 months of 2011 totaled $376.8 mln. according to IFRS. That is 36.6% more if compared to the same period of 2010.

Revenue of the Group increased by 24.0% and totaled $3,919.4 mln. Traffic revenue went up by 19.6% and amounted to $3,266.3 mln The increase in sales in 2011 was mainly caused by improvement of the Group’s amount of provided services.

Operating costs totaled $3,455.3 mln which is 28.4% higher compare to the same period of 2010. The rise of operating expenses was triggered by improvement of the Group’s amount of provided services.

Operating profit of Aeroflot Group for 9 months of 2010 amounted to $464.1 mln.

EBITDA totaled $653 mln, which is 2.0% more compare to the 9M2010. EBITDA margin amounted to 17,0%.

The main reasons of the Group's net profit growth were increase of volume of provided services as well as sale of shares of associated and subsidiary companies in 1H of 2011: JSC “Insurance Company “Moscow” (100% of equity capital), CJSC “TZK Sheremetevo” (31% of equity capital) and CJSC “Date” (50% of equity capital), Nordavia (100% of equity capital)

According to the general director of JSC ”Aeroflot” Vitaly Saveliev, strong financial results performed in 9M2011 make the achievement of 2011 year goals set up by company’s management in increasing operational efficiency of Aeroflot and its subsidiaries. 

 

Aeroflot - Russia’s leading air carrier, member of the global SkyTeam alliance with a consolidated route network covering 926 destinations in 173 countries. In 2010, Aeroflot carried 11.3 million passengers, thus passenger traffic of Aeroflot Group totaled 14.1 million passengers.

Aeroflot is one of the most fast-growing airlines in the world according to SkyTrax. Besides company got the prestigious international SkyTrax World Airline Awards as "The best Eastern European Airline"

Aeroflot is the one of the world top 25 airlines ranked by for financial and economic results according to Air Transport World magazine (“operating profit” and “net profit” category) in 2010.

Aeroflot is the first Russian carrier to have entered the IOSA Registry, and to have regularly confirmed the certificate. Aeroflot has successfully passed the ISAGO (IATA Safety Audit for Ground Operations) procedure. The company’s Quality Management System is certified for compliance with ISO 9001:2008.

Aeroflot operates one of Europe’s youngest air fleet that consists of 112 aircraft. Aeroflot is located in Sheremetyevo International Airport, Moscow. Find more at www.aeroflot.ru.