Aeroflot Group reported 1H 2015 net loss of RUB3.541 billion ($60 million) up 85.9% year-over-year.The results are published according to International Financial Reporting Standards (IFRS).
Revenue rose 25.8% to RUB176.467 billion and operating profit wasRUB5.87 billion, reversed from an operating loss ofRUB1.384 billion inthe year-ago half.
Traffic rose 14% to 17.9 million passengers. Domestic passenger numbers grew 33.4% to 10.3 million, while international passenger numbers decreased 4.9% to 7.6 million. Load factor remained flat at 75.7%. The load factor on international routes grew 1.2 points to 75.8%; on domestic routes it decreased 2.1 points to 75.5%.
“Inthe first half of2015, Aeroflot Group strengthened its position asthe leader inthe Russian air transportation market with 14.0% year-on-year growth inpassenger traffic and a5.8 percentage point increase inmarket share,” Aeroflot Deputy CEO Shamil Kurmashov said. “This was driven bystrong operational performance atAeroflot Airline and the successful roll-out ofRussia’s first low-cost carrier, Pobeda, which has quickly become one the top airlines inthe country. The Group also benefited from changes inthe competitive landscape, taking market share from foreign carriers that decreased frequencies onanumber ofroutes aswell asless efficient Russian peers,” he said. “The Group focused onfleet optimization, cost-cutting, boosting efficiency ofbusiness processes and financial management, and maintaining arobust financial position,” Kurmashov added.