Aeroflot has bucked the trend of strong profits in the airline sector by reporting a loss of US$88m for 2015. Despite posting a 13.4% rise in passenger numbers and holding the lion's share of the domestic market, Aeroflot lost money for the second consecutive year, reporting a RUB6.49b ($88m) shortfall. The company attributed the loss to Russia's recession and the costs of taking on routes and staff from Transaero, which was Russia's second-largest airline before it collapsed in October. While Aeroflot said passenger numbers for domestic flights were up by almost a third, those for international flights dropped 6.2% as cash-strapped Russians opted against foreign holidays. <br/>
sky
The Chinese govt has appointed former Transport of China vice minister Wang Changshun as China Southern Airlines’ new chairman. He succeeds Si Xianmin, who stepped down due to a “severe violation of discipline and laws” in early Nov 2015. Wang was China Southern’s vice chairman between Oct 2000 and July 2004, when he was appointed as vice minister of CAAC. Along with other Chinese carriers that predict big full-year profit increases for 2015, China Southern estimates its net income will jump 110%-130% in 2015, compared to a net profit of CNY1.77b (US$288m) in 2014. The carrier cited the rapid increase of market demand—especially since international routes have become a new growth point—and lower fuel prices as main reasons for the projected profit increase. <br/>