Russia's Aeroflot net loss widens in Q4 as passenger traffic slumps

Aeroflot reported a Q4 net loss more than six times higher than the previous year amid coronavirus-related curbs on passenger traffic. Aeroflot reported a net loss of 43.80b roubles ($594m) for the final quarter of the year compared to 6.79b roubles a year earlier. Russia, like other countries, saw a sharp fall in passenger traffic last year because of coronavirus restrictions, followed by a gradual recovery in recent months. Its domestic traffic, however, was less affected as the country refrained from imposing a complete lockdown during a new wave of infections. Aeroflot’s passenger traffic in 2020 halved from pre-pandemic levels, though it was down as much as 90% in Q2. The company said on Wednesday it maintains a conservative approach to capacity deployment in addition to the seasonal winter decline.<br/>