Aeroflot - Russian Airlines RAS net profit jumps y/y in H1.

By bne IntelliNews August 3, 2011
The RAS net profit of the domestic air carrier Aeroflot - Russian Airlines amounted to RUB 6.7bn (USD 240mn) in H1/11, up by 71.6% y/y, the company announced. In Q2/11 alone, companys net profit doubled q/q to RUB 4.6bn, which was attributed to a seasonal rise in sales and growing passenger traffic. In H1 Aeroflots revenues increased by 20% y/y to RUB 58bn. Companys passenger traffic in the reporting period went up by 22% to 6.24mn people. Aeroflots net profit in 2010 stood at RUB 12bn vs. RUB 1.56bn in 2009. Aeroflots passenger turnover increased by 29% y/y in 2010 to 11.28mn people, while cargo and post turnover jumped by 88% y/y to 0.163mn tons. To remind, it was announced in Q1/11 by the company that Aeroflot signed a contract to buy six Boeing-777-300ER and two Boeing-777-200ER airplanes from the US Boeing. The value of the deal is estimated at USD 1.6bn. The first aircraft are to be supplied in 2013. Before the deal, Aeroflots fleet was comprised of 100 airplanes, including 11 Boeing-767s.

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