Aeroflot revenue grew 10 per cent during first half of the year

Aeroflot financial results in 6M 2025 :: Aeroflot

Aeroflot Group sees 10.0 per cent growth in revenue backed by 2.0 per cent year-on-year improvement of its operational results, the company reported in its latest preliminary consolidated financial statement (IFRS) for six months of 2025 fiscal year.

The group’s three airlines – title carrier Aeroflot and its sister airlines Rossiya and LCC Pobeda – carried collectively 25.9 million passengers from January through June this year. Both traffic and RPKs, as well as seat load factor and revenue rates showed positive dynamics, resulting in 10.0 per cent increase in revenue against the same months of last year to 414.8 billion roubles.

At the same time, the airline had to handle rising costs, both expected and newly emerged. Specifically, it points at increasing costs of passenger services, as many Russian airports proceed with or have just completed their extensive terminal and infrastructure renovation projects, leading to increase in airport fees.

The labor costs have also continued to grow, in line with the airline’s strategy for improving terms of employment. Maintenance costs have also predictably been on the rise, albeit at slower rates than in the previous quarters.

On a more positive side, fuel costs stabilized for the first time in a long time, even showing a slight descent. Although cost dynamics still somewhat outpaced the revenue growth, the group is positive about the “material” revenue growth opportunities, boosted by increasing consumer purchasing power.

In the fiscal period Aeroflot Group continued to work on aircraft insurance settlement deals, which resulted in 42,9 billion roubles non-operational revenues. Strengthening of the national currency resulted in leasing payment revaluation of 34,2 billion roubles.

The Aeroflot Group’s revenue from scheduled passenger traffic increased by 11.3% to 388,6 billion roubles, mainly due to higher yield rates and increased passenger traffic. Revenue from cargo increased by 5.6% to 15,1 billion, despite a decline in cargo volumes, which was offset by positive dynamics in transportation costs. Other revenue increased by 4.2% to 9,1 billion. In the second quarter, Aeroflot Group maintained high growth rates comparable to those of the first half of the year.

Adjusted EBITDA (excluding the impact of insurance settlements and a number of other one-off effects) amounted to 82.8 billion roubles.

Net profit amounted to 74.3 billion roubles, compared to 42.3 billion roubles for the same period last year. Both indicators include the effect of currency revaluation, as well as a number of other one-off factors.

Adjusted net profit excluding these effects amounted to 4.3 billion roubles (compared to adjusted profit of 27.0 billion roubles for the first six months of 2024), including 7.7 billion roubles in the second quarter.

In January-June period, Aeroflot Group carried 25.9 million passengers. Passenger traffic on domestic routes increased by 1.3% to 19.7 million, and on international routes by 4.1% to 6.2 million passengers.

Seat load factor was 89.1%, up 0.8 p.p. RPKs increased by 3.7%, and ASKs by 2.7%.