Aeroflot-Rossiyskiye Avialinii PAO logo

AETG - Aeroflot-Rossiyskiye Avialinii PAO News Story

€4.78 -0.2  -4.4%

Last Trade - 7:03am

Sector
Industrials
Size
Mid Cap
Market Cap £921.9m
Enterprise Value £8.27bn
Revenue £6.92bn
Position in Universe 370th / 1038

UPDATE 1-Russia's Aeroflot 1st quarter loss widens as traffic slumps

(Adds details, analysts comments, share move)
    June 2 (Reuters) - Russian airline Aeroflot  AFLT.MM  on
Tuesday reported its first-quarter net loss widened to 22.48
billion roubles ($326.2 million) after traffic tumbled because
of travel curbs imposed in response to the coronavirus pandemic.
    In March alone, the carrier’s passenger traffic slumped more
than a third from a year ago and was down 12.3% for the quarter,
according to data Aeroflot published in April. urn:newsml:reuters.com:*:nFWN2CC0SL 
    Aeroflot reported its earnings before interest, taxes,
depreciation and amortization (EBITDA) fell by 38.8% to 13.05
billion roubles, while net loss widened by 42.8%
    Russia's flag carrier, however, said it expected market
recovery to begin "in the near future as the airline industry is
preparing for a gradual restart after almost three months of
lockdown.
    VTB Capital analysts said they expected the group’s EBITDA
to fall 41% to 100 billion roubles in 2020, but saw it exceeding
the 2019 level as early as in 2021.
    Globally, the International Air Transport Association does
not expect passenger traffic to return to pre-crisis levels
until 2023 at the earliest.  urn:newsml:reuters.com:*:nL8N2CV56H
    Aeroflot shares rose 0.4% by 0724 GMT.
    
    
    ($1 = 68.9097 roubles)

 (Reporting by Anna Rzhevkina; editing by Jason Neely and Tomasz
Janowski)
 ((anna.rzhevkina@tr.com; +7 495 775 1242;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.