October 5, 2010, Moscow. Aeroflot Group of Companies’ net profit in the first six months of 2010 according to the International Financial Reporting Standards (IFRS) made up $17.5 ml, which is 24% higher than in the respective period of 2009.
The growth rates of Aeroflot Group of Companies’ proceeds were higher than the growth rates of operational costs. Over the first six months of 2010 the Aeroflot Group of Companies managed to achieve the proceeds increase by 27% (to $1 854 ml) with the operational costs increasing by 25% (to make up $1 689 ml).
The EBITDA indicator (earnings before interest, taxes, depreciation and amortization) grew by 55% in comparison with the respective period of 2009. The cost efficiency indicator in EBITDA, EBITDA margin (the ratio of earnings before interest, taxes, depreciation and amortization to operational income) rose to 15% compared to 12% in the first six months of 2009.
According to Shamil Kurmashov, Aeroflot’s deputy chief executive officer for finance and investment, the positive financial results achieved by the Aeroflot Group of Companies are a direct consequence of the measures taken by the company management to increase efficiency and to restore demand for air travel.
Aeroflot is a leading air transport company in Russia as well as a member of SkyTeam, a global airline alliance. The cumulative network of routes comprises 898 destinations in 169 countries of the world. In 2009 Aeroflot transported 8.755 ml people while the Aeroflot Group of Companies transported 11.1 ml.
Aeroflot came first among European members of SkyTeam in the quality of its passenger service in economy class on short and medium range flights and in business class on long haul flights. The leadership of Aeroflot was established based on the SkyTeam Onboard Survey over the period of April – September 2009.
Aeroflot is one of the 25 leading world airlines in terms of financial and economic activity in 2009 (operating and net profit), according to the Air Transport World magazine.
Aeroflot was the first Russian carrier to enter the IOSA registry and has kept up the standard ever since. The airline has been successfully audited in terms of its compliance with the ISAGO safety requirements for ground operations. The company complies with ISO 9001:2000.
Aeroflot has one of the youngest aircraft fleets in Europe comprising 100 planes. Aeroflot headquarters are in Moscow in the international airport Sheremetyevo. For more information see www.aeroflot.ru.
Department of public relations and liaison with governmental bodies