Aeroflot posts financial results of Q1, 2003

In the first quarter of 2003, the net losses of the Russian airlines Aeroflot amounted to nearly RUR121.69m (about $3.38m) against RUR600m ($18.88m at the exchange rate as of January 1, 2003) in the same period of 2002. The company's revenues came to around RUR8.97bn ($286.21m) against RUR8.3bn ($261.13m) in the first quarter of 2002.

According to earlier reports, the company plans to get $16.82m in net profits during the first six months of 2003, down 15.3 percent against the same period of 2002. The revenues from operational activities are expected at $682.52m against $674.93m in the same period of 2002, whereas operational spendings at $673.48m against $646.78m in 2002.

These figures point to an improvement of Aeroflot's financial performance.

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