MOSCOW, June 26 (RIA Novosti) - S7 Airlines turned its performance around in 2006 posting net profits of 61 million rubles ($2.4 million), compared with losses in 2005 of 1 billion rubles ($38.6 million), the company said in a statement.
The company's revenues increased 27% to 25 billion rubles ($961 million). Last year the company also saw an increase of 16.4% in passenger numbers with 4.9 million passengers, with passenger traffic growing 14.2% to 12.5 billion kilometers.
S7 Airlines is based in Novosibirsk, West Siberia. It was formerly known as Sibir (Siberia) Airlines. It handles scheduled passenger flights to Russian and CIS destinations, as well as international services to China, Germany, Israel, Japan, South Korea, Turkey, and the United Arab Emirates. The airline has 60 aircraft.
The company, whose authorized capital is 102,000 rubles (over $3,900), is majority owned by first deputy director general Natalya Filyova (63.1%) and the government (25.5%).
