UAC (United Aircraft Corporation) of Russia has reported a net loss of $36.7 million for the first quarter of 2025, a more than threefold increase compared to the same period last year. The sharp downturn coincided with a 42% decline in quarterly revenue, which fell to $215.3 million.
Tulpar Air, a Russian aviation company, has initiated legal proceedings against its founder and former chairman Azat Khakim, filing a lawsuit with the Arbitration Court of Tatarstan to recover $3 million in damages. The claim centers on alleged financial misconduct or mismanagement that the company says caused measurable harm to its operations and reputation.
Ural Airlines, a Russian carrier, has announced it will distribute $84.5 million in dividends from its 2024 profits, reflecting strong financial performance during the year. The company also revealed that the remaining $130.6 million of net profit will be directed to its Accumulation Fund, aimed at supporting future growth and strategic investments.
Aeroflot, Russia’s flagship carrier, has reported a solid financial performance for the first quarter of 2025, achieving a net profit of $689 million. The carrier’s revenues also rose 12.4% year-on-year, reaching a total of $1.9 billion, highlighting strong demand recovery and robust cost management across its operations.
Utair, a prominent regional airline based in Russia, recorded a net profit of US$7.7 million in the first quarter of 2025, supported by a 13.7% year-over-year revenue increase to US$209.5 million. The results highlight the airline’s operational resilience amid continued economic uncertainty.
Yakovlev, a prominent Russian aircraft manufacturer, reported a net profit of US$138.4 million for the year 2024, despite withholding key financial metrics such as revenue, cost of sales, and other supporting data. The announcement provides a limited but notable glimpse into the company’s financial status amid a sensitive geopolitical and industrial climate.
United Aircraft reported a significant reduction in its net loss to US$172.4 million for the year 2024, as annual revenues climbed 13.1% to US$6.5 billion. The improved results mark a step forward in the Russian manufacturer’s post-crisis financial recovery.
Aeroflot, the Russian flag carrier, has successfully issued three-year exchange bonds with a variable coupon structure, securing $555 million in funding. The issuance marks a significant financial maneuver amid challenging economic conditions and evolving market dynamics for Russian carriers.
GTLK Europe, the Ireland-based aircraft leasing company, has formally denied allegations of liability made by Qatar Airways Group in a legal counterclaim valued at $155 million. The dispute centers on two Airbus A330 aircraft that were reportedly grounded following the onset of Russia-related sanctions and ownership complexities.
I Fly Airlines (Russia) has reported a significant threefold increase in revenue for the first quarter of 2025, reaching over US$23 million, largely driven by the ongoing wet lease of three A330 aircraft to fellow Russian carrier Aeroflot. This leasing arrangement has provided a stable revenue stream for I Fly and underscores the growing interdependence between carriers in the Russian market as…
