EUROPE: Volga-Dnepr reports record revenue growth

Russian airline group Volga-Dnepr continued its strong financial growth in the first half of 2008, with reported record revenue from its air charter and scheduled cargo operations, increasing by 91 per cent and nearly 180 per cent,respectively, towards a total group turnover of US$840 million. The group did not, however, report its net profit. Flights […]


Russian airline group Volga-Dnepr continued its strong financial growth in the first half of 2008, with reported record revenue from its air charter and scheduled cargo operations, increasing by 91 per cent and nearly 180 per cent,respectively, towards a total group turnover of US$840 million. The group did not, however, report its net profit.

Flights operated by the group’s AN-124-100 freighters generated US$463million of total charter revenue -compared to US$250 million in the opening six months of 2007 – while IL-76 operations saw half-year sales revenue climb to US$137 million. The group’s other business activities contributed US$27.6 million to the overall total revenue.

AirBridgeCargo Airlines’ scheduledall-cargo services also reportedly achieved “significant growth” in operational performance. The airline transported 62,000 tonnes of cargo in the January-June 2008 period, compared to 39,400 tonnes in the half-year of 2007.