Russia's
flagship carrier Aeroflot said Wednesday its net profit had grown nearly
seven-fold in the third quarter despite an economic crisis that has battered
the Russian
aviation industry.
The majority
state-controlled company said it had earned a net profit of 41.2 billion rubles
($630 million) between July and September.
Total revenue
rose 18 percent to 157.5 billion rubles.
Russia's
aviation industry has struggled in the face of the country's economic crisis caused
by falling oil prices and Western sanctions imposed over Moscow's actions in
Ukraine, hitting travellers' wallets.
Aeroflot is
emerging strong from the economic crisis that is now showing signs of
stabilisation, capitalising on the bankrupcy of its main competitor Transaero
last year.
Aeroflot also
saw its passenger numbers climb by 9.2 percent to 32.8 million in the first
nine months of 2016, compared to the same period last year.
Aeroflot's
deputy chief executive for finance, Shamil Kurmashov, said in a statement that
the results showed a "significant improvement" year-on-year.
He said the
latest results could be explained by a "growth of the business, net
positive FX effects and tight control of operating costs."
AFP
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