UTair Aviation incurs net loss in 1H2016; revenue up 17%

UTair Aviation reported (29-Aug-2016) the following financial highlights in the six months ended Jun-2016, according to International Financial Reporting Standards (IFRS):

• Revenue: RUB33,223.6 million (EUR426.7 million), +16.7% year-on-year;
• • Scheduled air services: RUB17,571.3 million (EUR225.7 million), +27.8%;
  • Charter air services: RUB5268.3 (EUR67.7 million), +7.6%;
  • UN agreements: RUB4536.8 million (EUR56.6 million), -7.2%;
  • Helicopter maintenance services in Russia: RUB4039.8 million (EUR51.9 million), +10.1%;
  • Helicopter maintenance services abroad: RUB1278.5 million (EUR16.4 million), +12.5%;
  • Maintenance and repair of aviation equipment: RUB362.1 million (EUR4.7 million), +34.2%;
  • Airport services: RUB167.0 million (EUR2.1 million), +70.4%;
  • Other: RUB481.9 million (EUR6.2 million), -60.2%;
• Operational profit: RUB1702.1 million (EUR21.9 million), -43.7%;
• Net profit (loss): (RUB685.0 million) (EUR8.8 million), compared to a loss of RUB1772.6 million (EUR27.8 million) in 1H2015;
• Total assets: RUB94,802.5 million (EUR1217.5 million);
• Cash and cash equivalents: RUB2623 million (EUR33.7 million);
• Total liabilities: RUB106,601.5 million (EUR1369.0 million).

UTair Aviation plans to complete the restructure of its leasing portfolio in 2016 and improve performance indicators using positive cashflow. [more - original PR - Russian]

*Based on the average conversion rate at RUB1 = EUR0.012842 for 1H2016

*Based on the average conversion rate at RUB1 = EUR0.015690 for 1H2015