Ural Airlines’ net profit jumps over 2 billion rubles

SVERDLOVSK REGION

 

As of the end of 2019, based on the Russian Accounting Standards (RAS), Ural Airlines’ net profit reached 2.092 billion rubles, having increased by 5.4 times as compared to the previous year. The revenue totaled 88.48 billion rubles (+8.8%).

 

As RusBusinessNews has been informed by the carrier’s Press Service, the cost of sales increased to 81.364 billion rubles (+7.2%). The gross profit went up to 7.117 billion (+31.2%) and the sales revenue increased to 1.443 billion rubles (almost by 36 times).

 

The airline’s other income totaled 4.422 billion rubles (+23%) and its other expenses reached 2.777 billion rubles (-1.6%). As a result, both the profit before tax and the net profit increased. EBITDA-2019 amounted to 4.03 billion rubles (2.68-fold increase).

 

The delays in the scheduled Airbus neo deliveries as well as the suspended deliveries of Boeing 737 MAX 8 jets had an adverse impact on the carrier’s financial and operating performance. The accounts receivable reached 8.758 billion rubles, while the accounts payable totaled 9.958 billion rubles.

 

Ural Airlines ranks among the leading Russian airlines by passenger traffic. As of the end of 2019, it provided services to 9,616,908 passengers (+7% as compared to 2018). At present, the carrier operates 48 Airbus airliners (3 A320neos, 2 A321neos, 23 A320s, 15 A321s and 5 A319s).