December 25, 2008
Russia's flag carrier Aeroflot said on Thursday it hoped to boost profit to
about 9.3 billion roubles (USD$328.3 million) in 2009, more than in any other
year, despite expectations of weaker demand for air travel.The company said in
a statement it hoped to meet the profit target by replacing fuel guzzling jets
with fuel efficient airliners and reducing administrative staff. Aeroflot
officials had earlier forecast a 10 to 20 percent drop in Russian traffic
volumes next year as corporate clients cut back the number of business trips
during the financial crisis.It had also said net profit for 2008 would come in
at around USD$85 million, compared with nearly USD$313 million last year, which
has so far been its record year in terms of earnings. The fall is due to higher
fuel costs and weaker demand for travel.In the statement on Thursday, Aeroflot
said that despite the planned administrative personnel cuts, the overall staff
numbers would grow 5.6 percent after it launches a new international terminal
at Moscow's Sheremetyevo Airport and puts new planes into operation.
(Reuters)
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