Volga-Dnepr Group / Press-center / Media Coverage

Volga-Dnepr revenue up

07/21/2008

Volga-Dnepr Group generated what it called record combined revenue of $840 million for its air charter and scheduled cargo operations in the first half of the year. The Russian cargo airline in an announcement said it is on track to improve upon 2007, when it recorded $1 billion in revenue for the first time, by approximately 60 percent. It did not disclose income figures.

For the January-June period, air-charter operations achieved sales of $600 million, up 91 percent from $314 million reported for the first half of 2007. Interim results also show that the group's scheduled cargo business, AirBridgeCargo Airlines, gained 81 percent of new sales from $117 million to $212 million.

The airline expects to post record revenue despite "unprecedented fuel prices," said Alexey Isaikin, president of Volga-Dnepr Group, in the announcement. The group's air-cargo charter operations in the first half completed 3,063 flights with its fleet of 10 AN-124-100 and 14 IL-76 freighter aircraft for government bodies and customers in the aerospace and oil and gas sectors.

AirBridgeCargo transported 62,000 tons of cargo in the January-June period, up from 39,400 tons in the year-ago period, operating seven Boeing 747 freighters.

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