Exec: Russia’s Aeroflot not to pay 2015 divs, sees no net profit

MOSCOW, Jan 14 (PRIME) -- Airline Aeroflot does not expect net profit neither under Russian Accounting Standards (RAS), nor under International Financial Reporting Standards (IFRS) in 2015 and will pay no dividends, Chairman of the board of directors Kirill Androsov told reporters Thursday.

“In 2015, as we see from the results which we will sum up…Aeroflot will most probably have a net loss both under RAS and IFRS. Due to a wide range of reasons, firstly, those expenditures which we were forced to put in balance in order to transport more than 2 million passengers of Transaero. This is why we will likely have no source to pay dividends,” Androsov said.

He did not disclose the losses which the company bore while providing services to passengers of failed airline Transaero. The amount included a 5 billion ruble loan and a significant spending of Aeroflot’s own money to finance fuel purchases, he said.

(76.4275 rubles – U.S. $1)

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