Pobeda's quarterly revenue fell by 18%, but the airline is profitable

Quarterly revenue "Victory" decreased by 18%, but the airline is profitable Airline in the 3rd quarter "Victory" (part of the group "Aeroflot") reduced revenue by 18% - to 15.8 billion rubles, follows from the presentation to the conference call "Aeroflot (MCX: AFLT)" for investors and analysts.

At the same time, operating expenses of the company decreased by 12% - to 10.5 billion rubles.

EBITDA fell by 19.5% - to 7.6 billion rubles, EBITDA margin - by 0.9 percentage points - to 48.2%.

Despite the decline in financial performance and the crisis in air travel due to the COVID-19 pandemic, "Victory" remained with a profit in the 3rd quarter: the company's adjusted net profit amounted to 3.65 billion rubles. (-13.5% YoY).

Passenger traffic "Victory" in July-September grew by 12% - up to 3.4 million people.

As reported, the revenue of the entire group "Aeroflot" (in addition to the carrier of the same name and "Victory", includes "Russia" and "Aurora") in the 3rd quarter fell by 60% (to 84.9 billion rubles), EBITDA - by 73% (to 20.1 billion rubles). The group's net loss amounted to 21.1 billion rubles. against a profit of 29.1 billion rubles. a year earlier.

"Victory" - low cost airline group "Aeroflot". Based in "Vnukovo". In the carrier's fleet there are 34 Boeing-737-800 NG in a single-class layout.