Aeroflot FY net income 104.69 rubles, +79 y/y

Aeroflot FY net income 104.69 rubles, +79 y/y

Aeroflot Reports 79% Year-Over-Year Increase in Net Profit for First Nine Months of 2025

Aeroflot Group, Russia’s flagship airline, reported a net profit of 107.2 billion rubles ($1.38 billion) for the first nine months of 2025, representing a 79% increase compared to 59.9 billion rubles ($770.8 million) in the same period of 2024. This marks a significant turnaround despite a 49.5% decline in adjusted net profit to 24.5 billion rubles ($315.3 million) under IFRS standards.

Revenue for the nine-month period rose 6.3% year-on-year to 676.5 billion rubles ($8.7 billion), driven by a 7.2% increase in scheduled passenger services revenue to 636.97 billion rubles ($8.2 billion), attributed to higher yields and passenger turnover. However, cargo revenue fell 3.3% to 22.5 billion rubles ($289.5 million), reflecting an 11.3% decline in cargo volumes. Other revenue streams, including ancillary income, grew 9.2% to 14.4 billion rubles ($185.3 million).

Operating expenses decreased by 3.9% year-on-year to 532.7 billion rubles ($6.85 billion), contributing to the net profit growth. Despite the revenue gains, the adjusted net profit decline highlights ongoing challenges, including elevated maintenance costs and currency fluctuations. For context, Aeroflot’s six-month 2025 results showed a 75.7% surge in net profit to 74.3 billion rubles ($800 million), bolstered by a 42.9 billion ruble insurance settlement for 17 aircraft.

The airline’s performance aligns with broader industry trends, including expanded route networks and fleet modernization efforts. However, cargo segment pressures and rising operational costs remain risks. With passenger traffic up 4.7% year-on-year in January 2026, Aeroflot’s financial trajectory suggests a cautious optimism, though long-term sustainability will depend on managing cost structures and cargo demand.

(https://www.ruaviation.com/news/2025/12/1/20247/): Aeroflot Group’s IFRS financial report for Q1-Q3 2025.
(https://www.aviacionline.com/aeroflots-profit-soars-but-a-multi-billion-ruble-insurance-deal-is-the-key-story): Consolidated H1 2025 financial results and operational metrics.