{"id":198923,"date":"2021-03-10T21:09:19","date_gmt":"2021-03-10T18:09:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aeroflot-logs-heavy-2020-loss\/"},"modified":"2021-03-10T21:09:19","modified_gmt":"2021-03-10T18:09:19","slug":"aeroflot-logs-heavy-2020-loss","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aeroflot-logs-heavy-2020-loss\/","title":{"rendered":"#Aeroflot logs heavy 2020 loss"},"content":{"rendered":"

“#Aeroflot logs heavy 2020 loss<\/strong>”<\/p>\n

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\"Aeroflot\"
\n Credit: Pixabay\/CC0 Public Domain
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Russia’s flagship airline Aeroflot announced Wednesday heavy losses for 2020 as coronavirus-related restrictions grounded planes around the world.<\/p>\n

The state-controlled airline recorded a net loss of 123.2 billion rubles ($1.6 billion) for last year, after 13.5 billion rubles net profit in 2019.<\/p>\n

“The persistence of large-scale restrictions on international flights and closed borders due to the pandemic are significant negative factors that continue to have a decisive impact on the aviation industry in general<\/a> and on Aeroflot Group in particular,” said deputy CEO for commerce and finance Andrey Chikhanchin.<\/p>\n

Revenue fell more than 55 percent to 302.2 billion rubles in 2020.<\/p>\n

Last year, Aeroflot Group carried 30.2 million passengers, more than 50 percent down year-on-year, a company statement said.<\/p>\n

Although significant, Aeroflot’s losses are still less massive than those of major European airlines including Air France-KLM which posted a 7.1 billion euro net loss for 2020 or Lufthansa which reported a 6.7 billion euro loss last year.<\/p>\n

Russia has held back on reimposing lockdowns seen in other European countries and instead relied on a nationwide vaccine rollout.<\/p>\n

Aeroflot said that in the third and fourth quarters domestic traffic showed a “significant recovery” and international flights were resumed to a series<\/a> of destinations.<\/p>\n

Aeroflot also hailed the “outstanding” success of its low-cost airline Pobeda, saying it increased passenger traffic by 7.6 percent in the second half of the year.<\/p>\n

“Despite complete suspension of operations in April and May, as well as (a) decrease in average fares aimed at stimulating demand, the company was profitable on annual accounts,” said Chikhanchin.\n <\/p>\n\n

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Pandemic pushes Air France-KLM deep into red in 2020\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n Aeroflot logs heavy 2020 loss (2021, March 10)
\n retrieved 10 March 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-03-aeroflot-heavy-loss.html<\/p>\n

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