Aeroflot boosts sales revenue and passenger transport by 22% in H1 - Savelyev
NOVO-OGARYEVO. July 18 (Interfax) - OJSC Aeroflot Russian Airlines boosted passenger transport by 22% to 6.24 million persons in the first half of 2011 from 5.1 million persons for the same period of 2010, the company's head, Vitaly Savelyev, said at a meeting with Russian Prime Minister Vladimir Putin.
"The entire civil aviation market increased by around 10%. Therefore, we're expanding twice as fast as the civil aviation market," he said.
The company's sales revenue also increased by 22% to around 47.5 billion rubles, Savelyev said. Net profit reached 2.5 billion rubles.
Later an Aeroflot representative said that the production figures presented at the meeting with Putin were preliminary for the first six months of the year, and that the financial figures were based on management financials for the first five months of the year for OJSC Aeroflot only. According to the management financials, net profit through the first five months was 2.114 billion rubles, the representative said. Russian accounting standards (RAS) data fro the first six months will be published in August.
Aeroflot's H1 net profits came to 3.9 billion rubles in the first half last year.
The company reported Q1 sales revenues of 25.63 billion rubles and net profits of 2.09 billion rubles.
For all of 2010, Aeroflot sales revenues to RAS rose 30.6% to 114.45 billion rubles, and net profits soared eight-fold to 12 billion rubles.
The airline kept its seat-occupancy rate at about last year's level of 75.5%, "which was difficult with the increasing volume and growing number of flights," Savelyev said.
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