CEO says Russia’s AvtoVAZ net loss to narrow in 2016

TOGLIATTI, Dec 21 (PRIME) -- The net loss of Russia’s largest carmaker AvtoVAZ is projected to narrow in 2016, CEO Nicolas Maure told reporters on Wednesday.

“Speaking about net losses, losses will fortunately be lower than in 2015,” he said without providing any figures.

In 2015, the company’s net loss tripled on the year to 73.851 billion rubles under International Financial Reporting Standards.

(61.7967 rubles – U.S. $1)

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