Net profit of «Aeroflot» under RAS for the 9 months decreased by 42%

© RIA Novosti / Maxim to Aminopherase in fotobank Sheremetyevo airport in MoscowNet profit of «Aeroflot» under RAS for the 9 months decreased by 42%© RIA Novosti / Maxim to Aminopherase the image Bank

. Net profit of the largest Russian airline «Aeroflot» under RAS in January-September of 2018 decreased by 42% compared to the same period of the previous year and amounted to 15,626 billion rubles, follows from the statements of the company.

The revenues of the airline increased by 11.9% and amounted to 381,341 billion. «The dynamics was attributable to higher company performance, as well as the dynamics of the major currencies,» — said in turn in the company message. Passenger traffic, as reported, in January-September 2018 increased by 6.3 percent to 73.5 billion passenger-kilometers, passenger traffic by 8% to 26.8 million passengers.

Cost of sales for the nine months increased by 22.6% to 362,946 million tons. «The growth of all cost items attributable to the company’s development and increase in traffic, as well as the influence of external factors, including a significant increase in the cost of aviation fuel and rising costs for air navigation, airport charges and ground handling against increase of tariffs for services in a number of airports», — explained in the message.

A number of optimization measures taken by the management of the company due to pressure from external factors, has reduced business expenses in the accounting period by 4.7% compared to the same period last year. «A substantial reduction was effected in the second and third quarters of 2018, in particular in the third quarter selling expenses decreased by 8.7% compared to the same period of the previous year», — added in the message.

The main owner of «Aeroflot» is the state with a share of 51.2%. The rostec state Corporation owns a 3.5% stake in the airline to institutional investors — 40%, physical persons — 5.2%, and the company’s management is 0.1%.