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Russia's Aeroflot posts 25% plunge in RAS net profit in H1 y-o-y

MOSCOW, October 2 (RIA Novosti) - Aeroflot's [RTS: AFLT] net profit calculated to Russian Accounting Standards declined 25.2% year-on-year in the first half of 2007, to 3.2 billion rubles ($130 million), the air carrier said Tuesday.

"However, in general, revenues continue to be higher than costs," the state-run company said in a news release.

The airline said its revenues from core services totaled 33.5 billion rubles ($1.34 billion), up 21.7% year-on-year. Costs increased 15.4% against the first half of 2006 to 31.9 billion rubles ($1.28 billion).

Aeroflot carried around 3.8 million passengers in the reporting period, which is 17.9% more than in January-June 2006.

The company accounts for 51% of Russia's international air traffic and 12% of domestic flights. The government holds a 51.17% stake in the air carrier.

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