RAS net loss of Aeroflot for the first half of 2020 increased 3 times to RUB 42.294 billion from RUB 14.12 billion a year earlier, the air carrier informed.
Revenue decreased by 51.9% to RUB 121.704 billion from RUB 252.863 billion.
The company's report notes that the spread of COVID-19 has had an unprecedented impact on the global aviation sector. The almost complete suspension of international flights imposed at the end of March 2020 and the restrictions on flights between the cities and regions in Russia have caused a substantial reduction in the 6-month and second-quarter passenger traffic in 2020, which seriously affected the financial performance of PJSC Aeroflot.
Aeroflot Group is the largest aviation holding in Russia comprising a number of subsidiaries: JSC DONAVIA, Rossiya Airlines, JSC Orenburg airlines (Orenair), JSC Aurora Airlines (the united Far East-based airline that carried out the first flight in November 2013) as well as Pobeda Airlines providing low-cost air transport services.
PJSC Aeroflot – Russian Airlines (tax number: 7712040126) is Russia's flagship air carrier. As of March 31, 2020, Aeroflot Group's fleet totaled 361 aircraft, the fleet of PJSC Aeroflot - Russian Airlines was reached 247 airliners.
IFRS loss of Aeroflot for Q1 2020 increased by 42.8% to RUB 22.484 billion from RUB 15.746 billion a year earlier. Revenue decreased by 10.2% to RUB 123.894 billion from RUB 138.041 billion, EBITDA by 38.8% to RUB 13.054 billion from RUB 21.333 billion.
RAS net loss of Aeroflot for Q1 2020 decreased by 4.2% to RUB 16.139 billion from RUB 16.85 billion a year earlier. Revenue decreased by 11.5% to RUB 100.867 billion from RUB 114.026 billion.
