Russia's Aeroflot Q1 loss widens as traffic slumps
Aeroflot Tuesday reported its Q1 net loss widened to 22.48b roubles ($326.2m) after traffic tumbled because of travel curbs imposed in response to the coronavirus pandemic. In March alone, the carrier’s passenger traffic slumped more than a third from a year ago and was down 12.3% for the quarter, according to data Aeroflot published in April. Aeroflot reported its earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 38.8% to 13.05b roubles, while net loss widened by 42.8% Russia’s flag carrier, however, said it expected market recovery to begin “in the near future as the airline industry is preparing for a gradual restart after almost three months of lockdown. VTB Capital analysts said they expected the group’s EBITDA to fall 41% to 100b roubles in 2020, but saw it exceeding the 2019 level as early as in 2021.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-03/sky/russias-aeroflot-q1-loss-widens-as-traffic-slumps
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Russia's Aeroflot Q1 loss widens as traffic slumps
Aeroflot Tuesday reported its Q1 net loss widened to 22.48b roubles ($326.2m) after traffic tumbled because of travel curbs imposed in response to the coronavirus pandemic. In March alone, the carrier’s passenger traffic slumped more than a third from a year ago and was down 12.3% for the quarter, according to data Aeroflot published in April. Aeroflot reported its earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 38.8% to 13.05b roubles, while net loss widened by 42.8% Russia’s flag carrier, however, said it expected market recovery to begin “in the near future as the airline industry is preparing for a gradual restart after almost three months of lockdown. VTB Capital analysts said they expected the group’s EBITDA to fall 41% to 100b roubles in 2020, but saw it exceeding the 2019 level as early as in 2021.<br/>
