International trade drives Aeroflot cargo business
Sometimes it pays to be in the right place at the right time. Moscow-based Aeroflot, located midway between Europa and Asia, saw cargo and mail volumes grow 29.2 percent in February, driven by strong
international freight volumes, while domestic volumes were flat. Full-year revenues for the Russian carrier rose 19.4 percent to US$8.7 billion.
At 14,231 tonnes for the month, international freight was up 53.5 percent, year-over-year, to 9,182 tonnes, while domestic cargo was up marginally, at 0.3 percent, to 5,049 tonnes.
In the first two months of 2017, cargo and mail were up 39.5 percent, y-o-y, to 28,622 tonnes. International volumes rose 69.6 percent to 19,014 tonnes, and domestic cargo rose 3.3 percent to 9,608 tonnes. The Moscow location eliminates thousands of kilometers of flight time, compared to longer routes through the Middle East hubs.
Aeroflot deputy CEO Shamil Kurmashov said that the addition of new widebody aircraft to the group’s fleet “enabled growth of cargo revenues by $52.6 million.”
However, the net positive effect on operating profit amounted to $245.7 million because of a strengthening of the rouble against international currencies in the fourth quarter, Kurmashov said. This was also made possible, he added, “thanks to efficient revenue management and tight control of operating costs.”