Aeroflot boosts RAS net profit 21% to 28.4 bln rubles in 2017
MOSCOW. Feb 5 (Interfax) - Aeroflot boosted RAS net profit 21% to 28.4 billion rubles in 2017, the company reported.
Revenue was up 4.4% to 446.7 billion rubles, driven by operating performance as passenger traffic grew 13.3% to 32.8 million passengers, as well as "significant exchange rate effects."
Cost of sales grew 7.7% to 400.3 billion rubles, with administrative and commercial expenses up 9.8% to 47.914 billion rubles. The cost item up most significantly was aviation fuel, demonstrating growth of 17.2%. Other cost items that grew were passenger service and aircraft servicing at airports, payroll expenses and marketing in target markets of development.
The company's long-term liabilities at the end of 2017 were 11 billion rubles compared with 18.5 billion rubles at the start of the year. Short-term liabilities were up to 94.7 billion rubles from 90.1 billion rubles.