Aeroflot Reports 2Q Operating Profit and Revenue Gains
The Aeroflot group of companies announced that it reached an operating profit of 2.3 billion rubles in the second quarter. This update comes from the carrier’s press service and was communicated by Andrey Chikhanchin, the first deputy director of the group. He emphasized that the quarterly result should be weighed against the corresponding period from the previous year to gauge organic progress. It is noted that Aeroflot did not receive subsidies to cover operating expenses starting in Q2 2023, a factor that boosted the operating income and EBITDA for the second quarter of the previous year.
Chikhanchin highlighted that in the scope of industrial support last year, the Aeroflot group obtained a total of 21 billion rubles. This context helps readers understand the magnitude of the year over year improvement seen in the first and second quarters. The assertion is that the group achieved meaningful organic financial growth compared with the prior year.
Revenue from passenger transportation in the second quarter reached 129.8 billion rubles, marking a 73.8 percent increase versus the same quarter a year earlier. Revenue growth appeared across other business lines as well, driving total quarterly revenue to 139.6 billion rubles, a 72.2 percent rise. These figures illustrate a broad-based improvement in the company’s topline during the quarter.
Regarding the first half of the year, Aeroflot reported that stronger operating metrics in 2023 contributed to a clear improvement in financial performance relative to the first half of 2022. Consolidated revenue stood at 252.1 billion rubles, up 39.7 percent, and it outpaced the rise in operating expenses which grew mainly due to the expansion of operations. The group noted that EBITDA reached 66.2 billion rubles, surpassing the level recorded in the same period the previous year. These results reflect a combination of higher activity levels and careful cost control across the enterprise. (Source: Aeroflot press service)
In examining cost dynamics, Aeroflot observed that the rise in airport service costs and fuel expenses was addressed through separate management strategies. The company’s leadership continues to focus on balancing revenue growth with cost pressures as travel demand rebounds. (Source: Aeroflot press service)