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4 Jun, 2010 08:55

Aeroflot posts FY 2009 net profit of $86 million

Aeroflot posts FY 2009 net profit of $86 million

Russian air flagship, Aeroflot, has posted a FY 2009 net profit of $86 million under IFRS.

The bottom line is up from a FY 2008 net profit of $37 million, with EBITDA down 11% year on year to $461 million, as revenues fell 27% to $3.346 billion.

Aeroflot deputy director of finances and investment, Shampil Kurmashov, said that the increase in net profit and EBITDA is a result of the measures taken by the company to increase performance and an early recovery in demand for air travel.