Transaero Airlines financial results for first six months of 2014

Transaero Airlines released that total revenue from all operations for the first six months of 2014 has increased by 1.1% over the same period of the previous year, up to 48.8bn rubles (US$ 1.39bn). Traffic revenue increased by 6.5%. From 2012 Transaero has been sccessfully implementing the Cost Reduction Programme. Thanks to this programme the airline has managed to minimize its costs in operational and financial activities as well as to achieve the best ratio between number of management and operating personnel. The result of the programme’s implementation in 2013 was estimated at 5.9bn rubles (US$168.7m). Under the programme in 2014: Cost of sales of Transaero Airlines for the first six months of 2014 has decreased by 0.9%. Selling expenses of the airline for the first six months of 2014 have decreased by 21% (mainly due to the reduction of costs on agent’s commission). The administrative expenses decreased by 12.2 %. Transaero’s profit from sales in the first six months of 2014 grew by 97% and reached 3.2bn rubles (US$91.5m).