Category Archives: Aeroflot Group

Aeroflot’s net income drops to $1.5 million for the first six months

Aeroflot Group (Aeroflot Russian Airlines) (Moscow) issued this financial statement:

Operating profit of Aeroflot Group for the first 6 months of 2013 according to IFRS increased by 70% and amounted to $167 million.

Revenue of Aeroflot Group for the first 6 months of 2013 according to IFRS increased by 14% and totaled $4,132.6 million.

Traffic revenue increased by 16% and amounted to $3,664.7 million.

EBITDA of Aeroflot Group amounted to $351.9 million having increased by 42% compared to the corresponding period of 2012.

Net income of Aeroflot Group for the first 6 months of 2013 totaled $1.5 million. In the corresponding period of 2012 net income amounted to $7.1 million. The main impact on the net income of the Group in the first 6 months of 2013 compared to the corresponding period of 2012 was caused by non-cash revaluation of finance lease liabilities denominated in foreign currency.

Copyright Photo: Ton Jochems/AirlinersGallery.com. The six Ilyushin Il-96-300s are assigned to the main holiday destinations such as Antalya, Turkey where RA-96010 (msn 74393201007) is pictured taxiing.

Aeroflot:

Aeroflot introduces a new low-fare airline: Dobrolet

Aeroflot Group (Aeroflot Russian Airlines) (Moscow) now includes a budget airline named Dobrolet (2nd). Originally, it was the name of the joint-stock company established in 1923, a predecessor of today’s Aeroflot.

Dobrolet will be based in the Moscow region. The fleet of the new airline will consist of Boeing 737-800 aircraft in an one class configuration. It is assumed that the low-cost carrier will start operating in spring of 2014. At the initial stage the airline will fly to the most popular destinations in the European part of Russia.

According to the airline group, “The reduction of transportation costs up to 40 percent compared to the “traditional” carriers will be achieved in several ways. Among them are: the increase of the number of seats in the cabin of an aircraft by reducing the pitch between the seats and fixed backrests; only direct ticket sales; an additional payment for a comfort seat, checked baggage, priority boarding, and meals on board; a possibility to book and sell additional services online at the company’s web site.

The Aeroflot Group will own 100 percent of the shares in the new company. An estimated investment in the project will be around $100 million over the first two years. The airline will operate 8 aircraft in the year of the launch; the annual fleet growth is planned as an average of 8 aircraft per year. Vladimir Gorbunov is appointed the Director General of the new Dobrolet.

Aeroflot Russian Airlines: