Aeroflot is negotiating deferment of aircraft deliveries in 20g

Аэрофлот ведет переговоры об отсрочке поставок самолетов в 20г

MOSCOW (Reuters) – the Largest Russian airline Aeroflot, prizemlilsya a significant portion of its fleet because of falling passenger numbers caused by the crisis, talks about the postponement of aircraft deliveries this year at a later date.

“We are in talks with leasing companies and manufacturers, we are trying to find a solution. We still have no final decisions, but we are trying to rearrange the delivery for a later date… in the summer of next year”, – said the Deputy Director for Commerce and Finance Andrei Chikhanchin on the conference call.

Aeroflot, like other Russian and global airline, is experiencing a sharp drop in passenger traffic due to the virus related restrictions and falling demand. For the first four months 2020, airlines fell by 34.7% to 11.4 million people.

“Almost a full stop of flights in April and may will lead to a significant deterioration of financial result in the second quarter”, – is spoken in the message of the airline.

In the beginning of the year Aeroflot imagined that his Park, which at the end of April consisted of 360 aircraft in 2020 will replenish with 42 aircraft subject to the disposal of 13 ships.

Aeroflot said Tuesday the higher net loss in the first quarter by 42.8% to 22.48 billion rubles.

Revenue of Aeroflot (MCX:AFLT) dropped by 10.2% to 123,9 billion rubles, EBITDA by 38.8% to 13 billion rubles.

The net loss, adjusted for non-cash revaluation of foreign currency liabilities leasing, rose by 0.2% to 15.77 billion.

Aeroflot announced that the decision on dividends payment for year 2019 has not yet been made – management of the airline, 51% owned by Russia, is waiting for government decisions.

Since June, Aeroflot begins to recover in the flight program, including resuming flights of its low-budget “daughter” airlines Win after a stop from 1 April.

In the first quarter of the Victory gained 1.8 billion loss on revenue of 8.35 billion, according to the presentation.

(Gleb Stolyarov, editor Anton Zverev)

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