Aeroflot Group intends to increase passenger traffic by 9-10% in 2019

aeroflot planeAeroflot Group intends to increase passenger traffic by 9-10% YoY in 2019. At the same time, the proceeds are planned to increase by more than 10%. The seat load of the group is projected at more than 82% against 82.7% last year. The maximum passenger turnover is planned to increase by 9-10%, while the group revenue is expected to grow by more than 10%.

However, Aeroflot expects in 2019 to stabilize fuel and other costs.

Earlier Aeroflot published consolidated financial results for 2018. The group’s net profit fell by 75% YoY to 5.7 billion rubles, against the consensus forecast of analysts for a profit of 8.7 billion rubles. The company’s EBITDA fell by 40% to 33.6 billion rubles, while the group revenues increased by 14.8% to 611.6 billion rubles.

The most significant factors affecting the financial results were “an unprecedented high increase in the average cost of kerosene, as well as a weakening ruble exchange rate”, explains Aeroflot.

Aeroflot is the flag carrier and largest airline of the Russian Federation. The carrier is an open joint stock company that operates domestic and international passenger and services, mainly from its hub at Sheremetyevo International Airport. The group includes also Pobeda Airlines, Rossiya Airlines, Aurora Airlines, and Aeromar.