Aeroflot to Receive 70 Billion Rubles in Subsidies

Aeroflot Group has obtained state guarantees to enable it to secure two loans totaling 70 billion rubles ($940 million), and has also received a subsidy worth 7.9 billion rubles, Flight Global reported.

The Russian operator has turned in a net loss of 58.3 billion rubles for the first six months of the year, under international accounting standards, after revenues more than halved to 149 billion rubles.

Aeroflot Group says the state measures “support our financial stability” and give the company the liquidity necessary to preserve jobs.

It says that it has also entered one-year loan agreements worth 6.7 billion rubles.