10 May 2011 10:57

Aeroflot quadruples Q1 RAS net profit

MOSCOW. May 10 (Interfax) - OJSC Aeroflot - Russian Airlines earned first-quarter net profits of 2.087 billion rubles to Russian Accounting Standards (RAS), over four times as much as the 503.267 million rubles it made in Q1 last year.

Net profit was 1.639 billion rubles in Q1 2009 and 1.336 billion in Q1 2008.

The airlines made 228.8 million rubles in net profits for Q4 2010. Aeroflot attributed the Q4-to-Q1 growth to an increase in revenue from the sale of stock in subsidiary and dependent companies.

The company flew 2,783,400 passengers in the first quarter of this year, an 18.8% year-on-year increase.