Aeroflot is expecting to post a US$ 80 000 000 FY profit for the financial year end, quadrupling what it made in the last FY.
"We are hoping for a net profit of $80 million this year; that is what we have put in our budget. We believe we have some possibilities to improve operating margins," Nikolai Kuznetsov said in a conference call.
In H1, Aeroflot made a US$45 000 000 operating profit compared with US$15 000 000 in the last H1.
Aeroflot is cutting costs by slashing loss-making routes and boosting flights to popular destinations. Fuel unproductive aircraft like the IL-62, IL-72 and IL-82 have been grounded. This cost-saving scheme could save the airline US$ 100 000 000.
A UBS Warburg analyst predicts a US$ 20 000 000 profit and says Aeroflot is over optimistic. An analsyt at broker Aton (My note: I never heard of it either), said $80 000 000 could be made through, "accounting manipulation."
More information at the St. Petersburg Times website