TYUMEN, August 2 (RIA Novosti) - UTair [RTS: TMAT] posted 6.5 billion rubles ($242 million) in earnings for the first half of 2006, representing a 43.7% year-on-year increase, the Russian air carrier said Wednesday.
The West Siberian-based airline, formerly Tyumenaviatrans Aviation, which operates domestic passenger flight and helicopter services, said operating costs had climbed 39.9% to 6.28 billion rubles ($233 million) in the reporting period.
Operating profit jumped 490% to 224.962 million rubles ($8.4 million), while returns on sales edged up to 3.5% in January-June, compared to 1% in the same period of last year.
A company spokesperson said the financial results met the company's 2006 business plan.
UTair's assets increased 29.4% from the start of the year, and fixed assets grew 26.5% as the company expanded and modernized its fleet.
