Aeroflot Group reported a 2017 net income of RUB23 billion ($399 million), down 41% from RUB38.8 billion for 2016, which the Russian flag carrier attributed to higher oil prices and foreign exchange losses. Revenue for the year grew 7.5% year-over-year (YOY) to RUB532.9 billion. Operating profit decreased 36.1% YOY to RUB40.4 billion.   “Higher oil prices and the change in ruble and currency correlation pattern rate put pressure on fuel costs, a key expense item accounting for ...

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