Moscow, April 8, 2015 /PRNewswire/ -- Airline Business magazine's "2014 Global Aviation Review" states that Aeroflot has ranked among the top five European airlines based on revenue per available seat kilometer (RASK) and growth rate.
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In 2014, Aeroflot’s RASK reached 67.12 billion revenue passenger kilometers, an 11.4% increase from the previous year. In absolute terms, it ranked fifth in Europe, and in terms of growth rate, it ranked fourth — surpassing leading airlines such as Air France-KLM, Lufthansa, and British Airways. The average RASK growth rate in Europe in 2014 was 6.2% (including low-cost carriers).
Aeroflot also placed among Europe’s top five in terms of available seat kilometers (ASK), with 85.82 billion ASK in 2014, a 12.3% year-on-year increase. For the third consecutive year, Aeroflot has ranked in the top five across all these metrics — making it the only Russian airline to achieve this feat.
Despite a challenging environment for the aviation industry due to the worsening economic situation and the declining ruble exchange rate, Aeroflot has maintained these international leadership positions. The airline achieved a load factor of 78.2% in 2014, an outstanding result considering the overall decline in demand within the Russian air travel market.
Both Aeroflot and the Aeroflot Group have exceeded global average growth rates in key metrics. In 2014, Aeroflot carried 23.6 million passengers, a 13% increase compared to 2013. The total passenger traffic of companies within the Aeroflot Group reached 34.7 million, up 10.7% from the previous year. Meanwhile, Airline Business data shows that the average passenger traffic growth rate for over 60 major global airlines was just 4.9%.
Since the beginning of 2015, the Aeroflot Group has not only maintained its growth momentum but has further accelerated it. In the first two months of 2015, the group carried over 5.1 million passengers, a 15.7% year-on-year increase.
Another key feature that sets Aeroflot apart from other airlines in the country is its ability to achieve this operational performance growth without incurring financial losses or increasing its debt burden. According to International Financial Reporting Standards (IFRS), the Aeroflot Group’s revenue in 2014 increased to 319.8 billion rubles (a 9.9% rise). Operating profit reached 11.3 billion rubles. Due to required accounting adjustments (including exchange rate fluctuations), the Aeroflot Group reported a loss of 17.1 billion rubles, but without these adjustments, the group would have posted a profit of 10.8 billion rubles.
Data from Airline Business indicates that elements of the Aeroflot Group’s strategy have been effectively implemented. One of the group’s goals is to rank among the top five European airlines by passenger traffic and revenue by 2025. Aeroflot has already demonstrated that its key metrics currently hold solid positions among the top five European airlines.