Profits plunge at Aeroflot

Net profit at Aeroflot fell by 98% during the first half of this year to just $7.1 million, compared to $376.8 million posted during the same period a year ago. The consolidation of the four airlines Aeroflot took over from Russian Technologies at the end of last year has been blamed for the fall especially since there has been no disposal of assets and no foreign exchange gains. The losses occurred despite that fact that the addition of the four airlines has increased passenger numbers at Aeroflot by 35%.