Transaero net profits soar 32% in Q1-Q3
MOSCOW. Nov 15 (Interfax) - Russia's OJSC Transaero Airlines increased its net profits 32% year-on-year to 405.412 million rubles in Jan-Sept thanks to flight-route optimization and stable fuel prices, the company reported.
Sales revenues leapt 55% to 44.163 billion rubles.
Transaero financial highlights for Jan-Sept (1,000 rubles):
| Jan-Sept 2010 | Jan-Sept 2009 | Change | |
| Sales revenues | 44 163 242 | 28 485 723 | 55% |
| Production costs | 37 629 570 | 23 471 322 | 60.3% |
| Gross profits | 6 533 672 | 5 014 401 | 30.3% |
| Sales profits | 3 441 827 | 2 669 623 | 28.9% |
| Pretax profits | 669 370 | 419 747 | 59.4% |
| Net profits | 405 412 | 306 865 | 32% |
Transaero was carrying accounts payable of less than one year's term of 19.243 billion rubles, including credits amounting to 7.158 billion rubles.
The airline is one of Russia's three largest. It operates three Tupolev 214s, four Boeing 777s, twelve Boeing 747s, eleven Boeing 767s, and 20 Boeing 737s. The company flew over five million passengers last year.
Transaero's main shareholders are company board of directors chairman Alexander Pleshakov (25.4%), General Director Olga Pleshakova (8%), head of X5 Retail Group Lev Khasis (6.5%), the investment fund Prosperity Voskhod (5%), LLC Transaero Finance (13.8%), and Roinco Enterprises Ltd., a Troika Dialog subsidiary, holds 7%.