The net profit of Aeroflot Group during the first 6 months of 2011 was $376,8 million in accordance with IFRS, which is $359,3 greater as compared to the same period in 2010, the airline reports. AEX.ru

The Group’s revenue has increased by 26,4% and reached $2,343.9 million. The revenues from transportation have increased by 21,3% to $1,928.3 million. The revenues have increased mostly due to increase of the scope of works completed by the Group in the first six months of 2011.

The Group’s operating costs have increased by 26,2% to $2,139.2 million. The increase of operating costs is caused by the increase of the scope of completed works and also by increase of aviation fuel price. Following the results of the first half of 2011 the Aeroflot Group has received an EBIT of $204,7 million, which is 28,7% more than in the same period of 2010.

The EBITDA was $330,9 million (+ 20,5% as compared to the first half of 2010). The EBITDA margin was 14,1%.

The main reasons for increase of net profit were the increase of scope of works and selling of shares in the subsidiaries and affiliates in the first half of 2011: Moscow insurance company (100% of registered capital), Sheremetyevo refueling enterprise (31% of registered capital), Deyt (50% of registered capital), Nordavia (100% of registered capital).

According to CEO of Aeroflot, Vitaly Savelyev, the high financial indicators obtained in the first half of 2011 bear testament of management completing the objectives for 2011 in the area of increasing the operating efficiency of Aeroflot and its subsidiaries.