Russia's flagship carrier Aeroflot on Monday, August 31, posted steep losses in the 2nd quarter after coronavirus travel restrictions caused a sharp reduction in flights.
The carrier said it suffered net losses of 35.8 billion rubles between April and June, compared with a net profit of 6.9 billion rubles in the same period last year. The former Soviet carrier, which is nearly a century old, has undergone major reforms in recent years, emerging as one of the world's most recognizable brands.
"In the 2nd quarter of 2020, and above all in April and May, most of Aeroflot Group’s fleet was grounded following COVID-related restrictions," said Andrey Chikhanchin, deputy chief executive officer for commerce and finance.
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