Russia’s Aeroflot Group reported a 2016 net income of RUB38.8 billion ($640 million), reversing a RUB6.5 billion net loss in 2015. The results are published according to International Financial Reporting Standards. Full-year revenue rose 19.4% to RUB496 billion year-over-year (YOY), producing an operating profit of RUB63.3 billion, up 43.4% YOY. Total operating costs for the year grew 16.6% to RUB432.6 billion. Aeroflot deputy CEO Shamil Kurmashov said the results were “due to ...

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