OREANDA-NEWS. Transaero Airlines has announced its financial results under International Financial Reporting Standards for the years 2011-2012. The results demonstrate strong and sustainable growth in key performance indicators and a stable financial position.

Transaero's IRFS statement shows significant growth in operational income and profitability. This has been achieved by creating a high quality product including a constantly renovated and growing fleet, a broad route network, a high quality service (the airline offers five levels of passenger service) as well as the highest flight safety level approved by international rankings.

The company's Debt/EBITDA ratio - one of the main indicators used to evaluate financial capability - was 7.1 following the 2012 results.

In 2012 the airline's operating profit was 8,053 million rubles. The cash flow statement demonstrates a stable increase in cash-flows from operating activities. Cash-flows grew by 500 million rubles in 2011 and by 3.3 billion rubles in 2012.

The IFRS statement confirms data released in accordance with Russian Accounting Standards (RAS) showing the high growth dynamics of the airline's revenue. Revenue from air operations and other airline services made up 68,226 million rubles in 2011 and 91,843 million in 2012. Income before tax under IFRS amounted to 2,192 million rubles in 2011 and 276.1 million rubles in 2012.

Transaero Airlines performed strongly in this period. Passenger turnover grew by 1.56 times in the 2011-2012 period to 41 billion RPK. Passenger numbers grew by 1.55 times to 10.3 million people in 2012.

The volume of cargo transported increased by 1.64 times to 65,900 tones. Transaero Airlines' fleet expanded from 59 to 94 aircraft. The number of routes grew from 101 to 240.

Commenting on the announcement, Olga Pleshakova, CEO of Transaero Airlines, said: “Over the last two years we have achieved strong growth in all our key performance indicators. Our company maintains a sustainable development rate that exceeds average industry rates, and the airline achieved its highest growth in operational results over the last five years. Both IFRS and RAS demonstrate that the airline is in a stable financial condition. We increased operational revenue despite an increase in fuel prices. Airline management will continue to work at improving the company's operational and financial results. This will contribute to improving our credit history and maturing company finances. Generally speaking the financial statement confirms that Transaero's strategy and tactics have been correct”.