Aeroflot returns to profit and cargo revenue grows 30%

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Aeroflot’s cargo revenue has grown 30.7 per cent in 2016 helped by wide-body fleet expansion, while the airline returned to profit.

Cargo revenue was up by three billion roubles to 12.6 billion roubles ($215.9 million) with cargo and mail volumes rising 31.6 per cent with the addition of more wide-body aircraft.

Revenue increased 19.4 per cent to 495.9 billion roubles and the airline made a profit of 38.8 billion roubles compared to a loss of 6.5 billion roubles in 2015.

Aeroflot deputy chief executive officer for commerce and finance, Shamil Kurmashov says: “In the past year we managed to make significant progress, both operationally and financially, on the path to achieving the Group’s long-term strategic goals.”

“Accelerated growth of our operating indicators in the fourth quarter of 2016 together with emerging macroeconomic improvements allow us to have an optimistic outlook for 2017 and the Group’s development prospects.”