MOSCOW, October 29 (RIA Novosti) - Russia's flagship air carrier Aeroflot announced on Thursday that its net profit under International Financial Reporting Standards declined 80%, year-on-year, in January-June to $14.1 million.

Aeroflot, which is headquartered at Moscow's Sheremetyevo international airport, attributed its net profit deccrease in the reporting period to declining consumer purchasing power and reduced business activity.

Aeroflot's revenues in the first half of 2009 dropped 32%, year-on-year, to $1.5 billion while operating expenditures declined also 32% to $1.35 billion, the air carrier said in a statement.

The airline itself carried 9.3 million passengers in 2008, and 11.6 million together with its affiliates.

Aeroflot, which flies to 96 destinations in 49 countries, accounts for over 42% of Russia's international air traffic and 12% of domestic flights.

The Russian government holds a 51.17% stake in the company.