Aeroflot CEO: it's too early to talk about the end of air transportation crisis

Aeroflot CEO: it's too early to talk about the end of air transportation crisis

The crisis period in the air transportation industry has not yet passed, Aeroflot CEO Mikhail Poluboyarinov said in an interview with Rossiya 25 TV channel. 

"In my opinion, it is too early to say that the crisis is over. We are quite cautious and optimistic about the future. We got these good financial results due to the passenger traffic of Russia. Unfortunately, we see that Europe is still closed, many Asian countries are closed. And it is impossible to say that the crisis is over completely," he said.

Poluboyarinov noted that against the backdrop of restrictions on international air traffic, the company expects to see a decline in losses by the end of the year, but not profitability.

"As for the financial results for the second quarter, we have practically reached the break-even point. Compared to the second quarter of 2020, the financial result was minus 26 bln rubles, and now it is only minus 1.4 bln rubles. We are hopeful for the end of the year, but it will still be a reduction in losses, not profits. We had too much revenue from international destinations, but given our, let's say," TASS cited him as saying.

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