Aeroflot Nine-Month Profit Up 36.6 Percent

 

Aeroflot Nine-Month Profit Up 36.6 Percent

Aeroflot Nine-Month Profit Up 36.6 Percent

Russian state airline Aeroflot said on Tuesday it saw its net profit rise 36.6 percent year-on-year to USD$383.7 million in the first nine months of the year.

The company, majority owned by the government, but on a long list of state assets that could be partly privatised, said also that its revenue increased 24 percent to USD$3.92 billion.

Shares in Aeroflot are down 44 percent in the year to date against an 18 percent fall on the MICEX index. It said earlier this year it might consider buying back its shares if its valuation does not improve.

The airline is also part owned by the tycoon Alexander Lebedev, the owner of Britain’s Independent newspaper.

(Reuters)



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