Russia’s S7 Airlines returns to full-year profit

Russian carrier S7 Airlines has turned in a profitable full year, with a pre-tax surplus of Rb12.7b ($156m) for 2021. The figure reverses the Rb5.2b loss recorded during the previous year, which was heavily affected by the pandemic. S7’s revenues rose by 60% to nearly Rb156b, according to the official figures filed to the Russian government’s federal tax service.The carrier had previously stated that it transported 17.8m passengers last year, with the vast majority – over 16.2m – taking domestic flights. Russia’s domestic market had experienced a strong recovery from the effects of the pandemic, and S7’s passenger numbers for December had exceeded pre-crisis figures. The airline’s net profit last year reached Rb12b. Cash reserves for the Moscow-based operator stood at Rb26.7b, down from the previous year-end level of Rb31.6b. S7 achieved a pre-tax profit for the pre-crisis year 2019 of nearly Rb4.9b.<br/>