Aeroflot Registers Low-Coster Posts 79 Fall in Profits

The Moscow Times
Friday 11th October, 2013

Aeroflot registered a low-cost airline Thursday under the brand “Dobrolyet,” reviving the name of a company, created in 1923, that preceded Russia’s flagship carrier. Dobrolyet, fully owned by Aeroflot, will begin flying in spring 2014, offering fares at 40 percent lower than current market rates. $100 million will be invested in the venture, which in its first year will operate a fleet of eight planes, Vedomosti reported. Aeroflot also reported Thursday a 79 percent fall in first-half net profit from the year earlier, hurt by a noncash loss from the revaluation of its lease obligations deno…

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