MOSCOW, October 14 (RIA Novosti) - Aeroflot's consolidated net profit for the first half of 2008 calculated to International Financial Reporting Standards (IFRS) fell 55% year-on-year to $72 million, Russia's flagship air carrier said in a statement Tuesday.
The decrease resulted from a hike in fuel prices, said Mikhail Poluboyarinov, Aeroflot's deputy general director for finance and planning.
Aeroflot's IFRS net profit could fall almost 67% in 2008 to $80-85 million, Poluboyarinov said.
The airline's IFRS net profit for all of 2007 was $313 million.
Aeroflot carries more than 8 million people annually and a further 2 million on its subsidiaries. The airline flies to 96 destinations in 49 countries.
