CEO: Russia’s Aeroflot plans to post IFRS net profit in 2016

ST. PETERSBURG, Jun 17 (PRIME) -- Russian flagship carrier Aeroflot plans to post a net profit in 2016 under International Financial Reporting Standards (IFRS) instead of a 3.1 billion ruble net loss projected earlier, CEO Vitaly Savelyev told reporters Friday.

The previous business plan, which encompasses a net loss in 2016, was approved already in November 2015, he said.

“We now believe that Aeroflot will enter the zone of profit. I’m not ready to provide the size of åðó profit now. We have prepared our proposals for the board of directors. After approval we will revise our business plan,” he said.

Aeroflot’s IFRS net loss narrowed to 6.494 billion rubles in 2015 from 17.1 billion rubles in 2014.

Aeroflot also expects its passenger traffic to grow 14% in 2016, Savelyev said. The passenger traffic of Aeroflot group can increase 13.5%, he added.

(65.8618 rubles – U.S. $1)

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