Aeroflot posts Q3 net profit thanks to domestic demand
Aeroflot reported a net profit in the third quarter of 2021 thanks to a booming domestic market and increased demand for flights during the summer season.
The Russian flag carrier made a net profit of RUB2.9 billion ($40.7 million) in the three months to September 30, 2021, against a loss of RUB23.2 billion ($325 million) one year ago. Revenues more than doubled to RUB126 billion ($1.8 billion), according to the results as per Russian Accounting Standards.
Aeroflot said its passenger numbers in the domestic market were 27% higher than in the third quarter of 2019. International capacity recovered to 40% of pre-pandemic levels by September, compared with just 16% in January, Aeroflot said in an October 29, 2021 statement.
“Although the situation in the industry remains challenging, Aeroflot continues to use every opportunity presented by the market to continue expanding its operations and to improve its financial performance,” the carrier commented.
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