From the beginning of the year through September, airlines' total operating losses have already exceeded 19 billion rubles, according to the Air Transport Operators Association.
Speaking at the Transport of Russia forum, Deputy Boris Shokurov, executive director of the Association of Air Transport Operators, noted that by the end of 2018, operating losses could amount to approximately 40 billion rubles, TASS reports.
“Considering the annual [loss] trend in the fourth quarter, we can predict that airlines will end 2018 with a total operating loss of 37–39 billion rubles,” he said.
In general, as Boris Shokurov asserts, airlines typically show positive results for the first three quarters, but this year, Russian airlines are showing negative results.
"The rise in jet fuel prices has had a particularly negative impact on the financial and economic health of airlines. According to operational data for the first nine months of this year, the total operating loss for airlines amounted to more than 19 billion rubles. Moreover, losses on domestic flights increased sevenfold to 34.5 billion rubles," he concluded.
Source: trn-news.ru