Aeroflot Almost Doubled Its Net Profit According to IFSR in the First 9 Months of 2007

05 February 2008


February 05, 2008Net profit of JSC Aeroflot – Russian Airlines rose to $357.3 million in the first nine months of 2007, as compared to the same period of 2006, according to International Financial Reporting Standards (IFRS). Thus, it exceeded the previous figure by 92%, i.e. $171 million.

Consolidated revenue of the Aeroflot Group rose 31.9 percent ($676.3 million) to $2,797.9 million in the first nine months of 2007, as compared to the same period of 2006. Meanwhile, operating expenses increased 21.9 percent ($409.4 million) to $2,276.6 million.

Aeroflot Deputy Director General for Finance and Planning Mikhail Poluboyarinov attributed the results to effective control of fuel costs, favorable market conditions and profitable currency exchange rates.JSC Aeroflot – Russian Airlines (AFLT) is the undisputed leader of the civil aviation of Russia, and actually, the national air carrier. As the largest airline in the country, it carries more than 8 million passengers a year, and together with its affiliated airlines, more than 10 million combined that makes around a quarter of the total air passenger traffic of Russia. Having a fleet of 83 aircraft, Aeroflot operates its own flights to 93 points of destination in 47 countries (302 flights a day overall). It controls 51% of the scheduled international service in Russia and about 12% of domestic air traffic. In 2006, it had net profit of $258.1 million.Aeroflot was the first airline company to become a certified operator of international aviation operational safety standard IOSA in Russia. It was named the best airline in 2007 by AFISHA-MIR, a monthly travel and lifestyle magazine.At the website you can buy tickets for Aeroflot’s flights using on-line payments and e-ticketing arrangements as well as find additional information about Aeroflot.