RUSSIAN flag-carrier Aeroflot's first half profit fell 23.3 per cent year on year to RUB6.31 billion (US$93.5 million) drawn on revenues of RUB8.17 billion, up 13.2 per cent.
The decline in profit was blamed on rising fuel prices, offsetting a 10.6 per cent gains made in cargo and mail volumes, reported London's Air Cargo News.
The carrier reassessed progress made on its corporate strategy, finding that Aeroflot had 'achieved the key goal' by becoming one of the 20 largest global airlines by passenger volume.
The board approved the following prioritised approaches towards achieving the Aeroflot group's Strategy-2023.
This included ensuring an increase in passengers, achieving faster growth, launching new regional bases, increasing the proportion of Russian aircraft in the fleet and continuing the digitisation of the business.
Aeroflot also introduced a number of what it describes as 'optimisation initiatives' to improve its financial performance in what it regards as a tough economic environment.
The decline in profit was blamed on rising fuel prices, offsetting a 10.6 per cent gains made in cargo and mail volumes, reported London's Air Cargo News.
The carrier reassessed progress made on its corporate strategy, finding that Aeroflot had 'achieved the key goal' by becoming one of the 20 largest global airlines by passenger volume.
The board approved the following prioritised approaches towards achieving the Aeroflot group's Strategy-2023.
This included ensuring an increase in passengers, achieving faster growth, launching new regional bases, increasing the proportion of Russian aircraft in the fleet and continuing the digitisation of the business.
Aeroflot also introduced a number of what it describes as 'optimisation initiatives' to improve its financial performance in what it regards as a tough economic environment.