Aeroflot posts strong nine-month results
On 2 December the Russian corporation Aeroflot announced the consolidated IFRS financial results of the Aeroflot Group for the nine months ending 30 September 2013. The key financial highlights include a strong increase in net income (USD 545 million, an increase of 84% versus the same nine months in 2012) and revenue (up 17% year-on-year to just over USD 7 billion).
On the operational side, Aeroflot ceased to operate its cargo plane fleet in 2013 (one of the carrier's three MD-11F that retired earlier this year is pictured), switching to belly cargo operations. This was the main factor driving the 8.6% decline in cargo tonnage carried in the first nine months of 2013 vis-à-vis the same time frame in 2012, thus leading to a decline in cargo revenue of 10.9%.