Aeroflot, Russia’s largest airline group, enjoyed a stronger year-on-year performance in the first half (six months to 30-Jun-2011), in marked contrast to many of its counterparts to the west. Operating profit increased 28.7% in 1H2011 to USD204.7 million, bolstered by higher revenue, increased passenger numbers, cost control and market share gains.
The USD376.8 million net result, a 21-fold increase over 1H2010’s USD17.5 million net profit, was boosted by a one-off gain in finance income. The group booked a USD200 million profit from the sale of non-core assets in the period.
