newstodate.aero
Dec 02, 2014 (newstodate): The Russian carrier Aeroflot is bleeding in 2014, latest figures show.
Aeroflot's operating profit fell by almost 50 percent during the first nine months of this year, operating costs increased by by 14.1 percent, y-o-y, and the EBITDA was down 34.1 percent.
Behind the poor performance is not least the drastic fall of the Russian Ruble against dollars and other currencies, leading also to growing burdens from aircraft lease contracts, capital costs, liabilities and losses on hedging.
All these negative factors contribute to growing debts that were up 41.5 percent, y-o-y.
The carrier's cargo business also saw revenues down by 17.9 percent during the period, also due to the stop of freighter operations in 2013 and the general decline in the global airfreight market.
Aeroflot's operating profit fell by almost 50 percent during the first nine months of this year, operating costs increased by by 14.1 percent, y-o-y, and the EBITDA was down 34.1 percent.
Behind the poor performance is not least the drastic fall of the Russian Ruble against dollars and other currencies, leading also to growing burdens from aircraft lease contracts, capital costs, liabilities and losses on hedging.
All these negative factors contribute to growing debts that were up 41.5 percent, y-o-y.
The carrier's cargo business also saw revenues down by 17.9 percent during the period, also due to the stop of freighter operations in 2013 and the general decline in the global airfreight market.