Aeroflot Group increases IFRS net profit by 36.6% to $383.7 mln in 9mths
MOSCOW. Dec 20 (Interfax) - Aeroflot Group increased its IFRS (international financial reporting standards) net profit by 36.6% year-on-year to $383.7 million in January-September 2011, the company said in its IFRS financial report.
Aeroflot Group's sales revenue increased by 24% to $3.919 billion. The company's revenue from transport operations increased by 19.6% to$3.226 billion while EBITDA in January-September grew 2% to $653 million.
The group's operational costs came to $3.455 billion in the nine months. The increase in net profit had been driven by more operations, as well as the group's sale of stakes in the following companies and subsidiaries during the first half of 2011: OJSC SK Moskva (100% of charter capital), CJSC TZK Sheremetyevo (31%), CJSC Deit (50%), and Nordavia (100%).
Aeroflot is Russia's biggest airline in which the state is the main shareholder with a 51.17% stake. The company is based out of Moscow's Sheremetyevo Airport.