Russia’s UTair Airline has reported a 2015 net income of RUB2.27 billion ($31 million), reversed from a net loss of RUB61.66 billion in 2014. Full-year revenue fell 8.2% to RUB70.3 billion. The carrier cited optimizing route network, cutting surplus fleet and lowering expenses for the results, which were published according to International Financial reporting Standards (IFRS). In 2014, UTair had negative capital of RUB43.6 billion. Liabilities exceeded short-term assets by RUB86.7 ...

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