OREANDA-NEWS. June 9, 2012. Net profit of Aeroflot Group for 12 months of 2011 totaled USD 491 mln. according to IFRS, exceeding the result for 12 months of 2010 by 94%.

Revenue of the Group increased by 25% and totaled USD 5,378 mln. Traffic revenue went up by 21% and amounted to USD 4,466 mln. The increase in revenue in 2011 was mainly caused by growth of the Group’s operations volume. EBITDA totaled USD 646 mln. Operating profit for 12 months of 2011 amounted to USD 388 mln.

The main drivers of the Group's net profit growth were increase of operations volume as well as sale of Aeroflot’s shares in subsidiaries and associated companies in 2011: JSC “Insurance Company “Moscow” (100% of equity capital), CJSC “TZK Sheremetevo” (31% of equity capital) and CJSC “Date” (50% of equity capital), Nordavia (100% of equity capital) and the effect from finalizing the deal of share swap of 52.8% shares of JSC “Terminal” for a stake in JSC “Sheremetyevo International Airport”.

Fnancial statements of the Group include financial results from November 15, 2011 to December 31, 2011 of four integrated airlines purchased from “Russian Technologies” State Corporation.

According to the general director of JSC ”Aeroflot” Vitaly Saveliev, strong financial results performed in 2011 reflect the achievement of 2011 year goals set up by company’s management in increasing operational efficiency of Aeroflot and its subsidiaries.