UTAir profits on the rise in 2011

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Russian carrier UTAir lifted net profits more than a fifth in 2011 to reach Rb261.2 million ($7.9 million).

The increase in net profit came as revenues jumped a quarter to just over Rb54 billion for the year.

The airline carried 6.7 million passengers last year, an increase of 30% on 2010. Traffic, as measured in RPKs, grew 39%.