Vladivostok Avia’s losses go up

2 August 2010 (08:59)

OAO Vladivostok Avia keeps sustaining increasingly more losses. The carrier’s net loss actually amounted to 729.099 million RUR over the current financial period, which exceeded the loss sustained in the previous financial period by 117.284 million RUR, or 19.17%, the airline’s official release states.

The company does not specify, however, what exactly the term ‘financial period’ stands for. It says the worsened financial performance has to do with a 17% drop in the average passenger fares because of Russia’s major air carriers’ dumping policies on the domestic flights market. What is more, the prime cost of the business has been going up as well.

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