Aeroflot H1 Profit Up 78 Percent
Date: Friday, July 30 @ 07:48:14 PDT
Topic: Aviation
Russian flag carrier Aeroflot posted a 78 percent rise in first-half net profits to 3.2 billion roubles (USD$110 million), the company said on Friday.
Sales grew 18 percent to 25.1 billion roubles (USD$862.4 million), outpacing a 14.3 percent growth in operating costs. The company gave no total figure for costs.
Operating profits rose 80 percent to 2.2 billion roubles (USD$75.6 million) and would have been higher but for a rise in basic expenses such as jet fuel and airport fees, Finance Director Mikhail Poluboyarinov said in a statement.
Aeroflot is 51 percent state-owned and scheduled for further privatization in 2005.
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