OREANDA-NEWS. On April 15, 2008 Sibir Airlines (S7 Airlines trademark), Russia’s largest air carrier by number of transported passengers on domestic routes, has announced its financial results for 2007, reported the press-centre of S7 Airlines.

Profit from OAO Sibir Airlines’ sales in 2007 increased by three times to 2,545 bn rubles from 837,715 million rubles in 2006. All the financial data are given according to Russian accounting standards (RAS).

The company’s net profit in 2007 reached 109.748 million rubles, which is 80% more than in 2006. Its income in 2007 increased compared with the previous year by 25% to 31,118 bn rubles.
“Last year the airline demonstrated a stable increase in all the financial indicators. This is first and foremost associated with an increase in the number of transported passengers. Sixteen percent more passengers used the services of S7 Airlines in 2007 than in 2006 (5,698,109 aviation passengers),” said the airline’s General Director Vladislav Filev. “In addition, the increase in the company’s efficiency is directly associated with the renewal of the company’s fleet, namely, the commissioning of ten imported Airbus A319 airplanes in 2007.”

“Expenditures on aviation fuel for foreign airplanes is significantly lower than for Russian-made aircraft,” Sibir’s Financial Director Ilya Alexandrovsky noted. “Most air carriers in Russia use Russian airplanes, so their expenditures on aviation fuel are higher. By modernizing its fleet, S7 Airlines not only provides comfortable conditions for passengers, but also reduces its direct expenses.”

In 2008, S7 Airlines preserved positive dynamics in all of its production indicators. By the summer season the company will add to its fleet four new Airbus A320airplanes. The first airplane of this type, obtained by S7 Airlines directly from the plant in Toulouse, France in April 2008, is already being used on a number of routes.