Aeroflot posts net profit slump in Q1 2019 results

Russian carrier Aeroflot has experienced a net profits slump after it posted 2.8 billion roubles (approximately $$43 million) in its first quarter 2019 results, down from 28.4 billion in the same period last year. The airline has blamed rising fuel costs which it states increased by 28.4% year-on-year to 43.7 million roubles. This was due to a 10.2% year-on-year increase in the average price of aircraft fuel in roubles amid changes in the price of oil, as well as an increase in flight numbers and flying time. Excluding fuel costs, operating costs increased by 23.6% year-on-year. Operating costs increased by