S7 Airlines reports 18% decline in operating profit in 2011, net profit increases

S7 Airlines reported a 17.8% year-on-year decline in operating profit to RUB3450 million (EUR84.6 million) and a 7.5-fold year-on-year increase in net profit to RUB733.5 million (EUR18.0 million) in 2011 (according to Russian Accounting Standards). As reported by RBC News, the carrier also reported a 13.7% increase in revenue to RUB45,260 million (EUR1110 million).