Russia’s Aeroflot Group reported a RUB5.7 billion ($82 million) net profit for 2018, down 75% from RUB23 billion in 2017—a decline the group attributed to higher fuel prices and foreign exchange losses. “The most significant factor affecting the group’s financial results for 2018 was the unprecedentedly fast increase in the average cost of jet fuel, as well as depreciation of the ruble. Across the group, jet fuel prices increased by 36%, which at the group’s ...

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