Rendering of Boeing 777 in Aeroflot livery
Russia’s Aeroflot Group has reported a nine-month net income of $542.2 million, up 84.1% year-over-year. Revenue rose 16.8% to $7.03 billion. Traffic revenue for the period grew 17.8% to $6.26 billion. Non-fuel operating costs increased 10.1% to $4.3 billion. Fuel costs rose 11.4% to $1.88 billion over the year-ago period. The results are according to International Financial Reporting Standards (IFRS).
The group passenger traffic grew 14.7% to 24 million, while RPKs rose 16.2% to 65.3 billion. Aeroflot Airline capacity rose 18.3%, while Aeroflot group capacity was up 15.8% compared to 9M 2012.
According to the Russian Accounting Standards (RAS), Aeroflot’s net income rose 40%. After publishing RAS results, the company said in a statement that revenue grew because of rising demand. After publishing IFRS results, Aeroflot CEO Vitaly Saveliev added in the statement that revenue growth was due to operation optimization of its subsidiaries.
The airline added 15 aircraft from Sept. 30, 2012 to Sept. 30, 2013, including new Boeing 777s. The group includes Aeroflot Airline, Donavia, OrenAir, Rossiya Airlines, and Aurora Airline, which was created from Vladivostok Avia and SAT Airlines.