Aeroflot posts 1H 2011 net profit of $376.8 million

RIA Novosti / Ruslan Krivobok
Russian air flagship, Aeroflot, has posted a 1H 2011 net profit of $376.8 million under IFRS.

The bottom line is up from the 1H 2010 net profit of $17.5 million, with 1H 2011 EBITDA rising 20.5% year on year to $330.9 million, as 1H revenues rose 26.4% year on year to $2.344 billion.

Aeroflot general director Vitaly Savelyev said the results reflected a company focus on boosting efficiency, coupled with rising passenger numbers.

Aeroflot also noted the impact of its sales of stakes in a range of former subsidiaries.