MOSCOW, October 6 (RIA Novosti) - Russia's second largest airline, Transaero, made a net loss of 1.97 billion rubles to IFRS in 2009, down 36.5 percent year-on-year, the company said on Wednesday.
Transaero published its IFRS report for the first time over the period of 2007-2009. Transaero CEO Olga Pleshkova previously said the airline planned to hold an initial public offering (IPO) by the end of 2010 and place 18 percent of its shares on the Moscow Interbank Currency Exchange (MICEX).
Transaero's revenue rose 0.1 percent to 35.77 billion rubles in 2009, the company said, adding that 99 percent of total revenues were from passenger traffic.
Transaero attributed its 2009 net loss to revaluation of foreign exchange liabilities and assets, accelerated depreciation and expenditures on planned maintenance and repair of aircraft, investments in its airliner fleet and the improvement of services for passengers.
RIA Novosti
