In the twelve months of 2008, net profits of the Aeroflot Group according to the International Financial Reporting Standards (IFRS) amounted to USD 37 million.
The consolidated revenues of Aeroflot Group in the twelve months of 2008 according to IFRS rose by 21.2%, or USD 806 million compared to the corresponding period of 2007, and amounted to USD 4,613.8 million. Operational expenses rose by 32.4%, or USD 1,045.5 million, and amounted to USD 4,275.3 million.
According to Mikhail Poluboyarinov, Deputy CEO of JSC Aeroflot, the net profit reduction is caused by a surge in aviation fuels, the losses of the subsidiary CJSC Aeroflot Cargo, as well as by revaluation of obligations under financial lease of aircrafts and the long-term loans given to JSC Terminal for the construction of Sheremetyevo-<st1:metricconverter w:st="on" ProductID="3 in">3 in</st1:metricconverter> USD.
