Russia’s Transaero Airlines has reported first-half net income of RUB750 million ($20.1 million), up 61% compared to net income of RUB464 million in the year-ago period. The results are published according to International Financial Reporting Standards.

First-half revenue increased 6.8% to RUB48.6 billion. According to Transaero, revenue has grown 19% on domestic and CIS destinations and 16.3% on destinations in Asia. The number of passengers carried for the period reached 5.75 million, up 4.8% year-over-year.

Transaero attributed the profit increase to a concentration on its most profitable destinations and cost-cutting programs.