Russian carriers’ losses mount

The Russian Association of Air Transport Operators (AEVT) has estimated first-quarter losses by Russian airlines to have increased by RUB1 billion ($19.4 million) for 2014 due to exchange rates and a decrease in passenger traffic. AEVT reports first-quarter international traffic down 15.6%, even though domestic traffic was up 11.4% over the same period these routes are mostly unprofitable.