Aeroflot-Russian International Airlines(ARIA) has posted a positive set of 1996 results, showing a strong growth in passenger numbers and a boom in cargo traffic.
ARIA revealed an overall net profit of 124.5 billion roubles ($22 million) for 1996, and the results would have been better but for an unspecified 53 billion roubles extraordinary item. Any comparison with previous years is problematic, as ARIA Westernises its accounts, although the result is roughly in line with the dollar profits shown in 1995. Sales were at 7,241 billion roubles, helped by a 9% growth in passenger numbers and an impressive gain of nearly 28% in cargo.
The airline's balance sheet also looks healthy, with 641 billion roubles in the bank at the end of the year. Interest payments over 1996 were minimal, at only 610 million roubles. Staff numbers were up by just over 1,000 at 14,400, while the fleet totalled 113 aircraft by the year-end after the addition of four Airbus A310s and the retirement of five Ilyushin Il-62s and five Il-76s.
The results were unveiled after the annual general meeting on 30 May, at which Valeri Okulev was confirmed in the position of ARIA general director.
Source: Flight International
