Aeroflot 2012 profits down 66% after absorbing subsidiaries

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Aeroflot posted a 66% fall in net income during the 2012 financial year to 31 December, recording a profit of $166 million.

Operating income decline by 8% to $358 million against revenues of $8.14 billion. The sales figure marked a 51% increase on the previous year.

Higher revenues were driven by the integration of four subsidiaries - Rossiya Airlines, SAT Airlines, Orenair and Vladivostok Air - into Aeroflot Group, which also pushed passenger traffic up by 67.6%.

Last year further saw the introduction of 18 new aircraft, comprising eight Airbus A330s, three A321s, one A320 and six Sukhoi Superjet 100s.