Aeroflot profits slump 66%

Russia flag carrier Aeroflot has posted a net profit of $166 million in 2012, a drop of 66% on the previous year. Revenue rose however by 51% to $8.138 billion, with revenues from air transport up by 59% to $7.118 billion. Aeroflot said its 2012 net profit was lower than the previous year because the company received considerable proceeds in 2011 from the sale of subsidiaries and affiliates.