Aeroflot slashes interim losses as domestic recovery lifts performance
Aeroflot Group managed to cut net losses by 38% over the first half, to Rb26.3b ($361m) under Russian accounting standards. The company’s Q2 showed a “significant improvement”, it states, with a net loss of Rb1.4b in contrast to the figure of over Rb26b for the period last year. Aeroflot Group CFO Andrei Chikhanchin says that, despite the “severe” limitations on international air traffic, the company’s work to restore domestic air transport has underpinned its financial performance. Over the second quarter, it says, domestic passenger traffic exceeded the level of 2019 by nearly 18% after accounting for the divestment of eastern carrier Aurora last year. “Recovery of the domestic market has made a significant positive contribution to Aeroflot’s results, even given the increased competition in this segment,” says Chikhanchin.<br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2021-08-04/sky/aeroflot-slashes-interim-losses-as-domestic-recovery-lifts-performance
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Aeroflot slashes interim losses as domestic recovery lifts performance
Aeroflot Group managed to cut net losses by 38% over the first half, to Rb26.3b ($361m) under Russian accounting standards. The company’s Q2 showed a “significant improvement”, it states, with a net loss of Rb1.4b in contrast to the figure of over Rb26b for the period last year. Aeroflot Group CFO Andrei Chikhanchin says that, despite the “severe” limitations on international air traffic, the company’s work to restore domestic air transport has underpinned its financial performance. Over the second quarter, it says, domestic passenger traffic exceeded the level of 2019 by nearly 18% after accounting for the divestment of eastern carrier Aurora last year. “Recovery of the domestic market has made a significant positive contribution to Aeroflot’s results, even given the increased competition in this segment,” says Chikhanchin.<br/>
