Utair says IFRS net loss narrows by 74% to 5.9 bln rbl in 2019

MOSCOW, Jun 26 (PRIME) -- The net loss of Russian airline Utair shrank by about 74% on the year to 5.9 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Friday.

Revenue went up 3.2% on the year to 86.3 billion rubles in 2019, while operating costs were reduced by 1.3 billion rubles through efficient management of the route network and the aircraft fleet, optimization of fuel costs, and closure of leasing payments on Boeing Classic planes, the airline said.

The company also said that its passenger traffic increased by 1.7% to 7.8 million passengers last year.

(69.4660 rubles – U.S. $1)

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