Aeroflot's first half net profit jumps to $377 mln

Russia's flagship airline Aeroflot saw its first quarter 2011 net profit jump 2050 percent year-on-year to $376.8 million to IFRS, the company said in a statement on Tuesday. "Net profit skyrocketed owing to an increase in transport operations and the sale of stakes in subsidiaries and captive companies in the first half of 2011," the airline said. Revenue grew 26.4 percent to $2.343 billion, including revenue from aviation operations, which rose 21.3 percent to $1.928 billion. EBITDA increased 20.5 percent to $330.9 million, while EBITDA margin amounted to 14.1 percent. Operating expenses grew 26.2 percent to $2.139 billion due to aviation fuel price growth.