The revenue of airlines for 2024 exceeded 1.77 trillion rubles.
As Kommersant calculated, the revenue of all passenger airlines at the end of 2024 increased by 23% and reached 1.77 trillion rubles. The net profit of leading carriers exceeded 100 billion rubles, and the profit from sales – at least 95 billion rubles. excluding Victory, whose data is not disclosed. If in 2022 the experts explained the indicators of the airline with the influence of subsidies, and in 2023-the effect of insurance settlement, now-an increase in the number of international flights and the rise in price of tickets.
According to Kommersant, the revenue of 30 Russian airlines, which account for almost 100% passenger transportation, exceeded 1.77 trillion rubles at the end of the year. – 23% higher than 2023 and 65% of 2022. This follows from the analyzed “Kommersant” reports on RAS (1.67 trillion for 29 airlines) and the assessment of Victory revenue of 100 billion rubles, calculated by three analysts on anonymity conditions. The carrier does not reveal the indicators after entering the SDN List in the spring of 2024, the source close to the airline confirmed the correctness of the assessment. Almost 90% of the passenger traffic is provided by the top 10 airlines, and almost half of the traffic falls on the Aeroflot group (also includes Victory and Russia).
The net profit of 22 airlines amounted to about 104 billion rubles, of which almost 85 billion rubles were the result of 21 carriers. About 20 billion rubles. Analysts appreciated the net profit of Victory. The total result is 22% higher than the net profit received by carriers in the results of 2023 (see “Kommersant” dated April 9, 2024), and 16% is better than the 2022 indicator. Other eight carriers received a net loss of 27.9 billion rubles. In 2023, there were 69 billion rubles a net loss of airlines, in 2022 – 25 billion rubles. Thus, the aircraft industry reached a salted profit of 76 billion rubles. This indicator is regarded by analysts as the most objective for evaluating the general -industrial financial condition with scattered data for individual companies.
The profit from sales is also considered indicative, which allows you to understand how much money the airline remains after all the costs, but before taxes and loans. Operating profit this year increased 4.7 times excluding Victory, for the industry exceeded 61 billion rubles. Against 13 billion rubles. A year earlier. In particular, 14 carriers received 95.6 billion rubles. Profits from sales, 15 companies – 34 billion rubles. loss. In the crisis of 2022, the operational loss of the industry amounted to about 100 billion rubles: 13 carriers received 34 billion rubles. Profit, the rest – 134 billion rubles. loss.
The volume of passenger transportation by Russian airlines increased in 2024 by 5.9%, to 111.7 million passengers.
At the same time, an increase in revenue of 30 airlines by 23% became possible due to an increase in ticket prices, said Anastasia Egazaryan, senior analyst at Alfa-Bank. The price factor, according to its assessment, provided about 16 percentage points of the revenue increase: « This corresponds to the trends observed in the reports of the carriers. »
The analyst emphasizes that the financial indicators of companies differ significantly due to the difficulties of maintaining the flight fitness of the aircraft and the forced contraction of transportation. The key competitive advantage is now the ability to maintain flight fitness and rationally manage the park.
Mrs. Egazaryan adds that 39% of the general -scale operating profit falls on Aeroflot, which also illustrates the heterogeneity of the situation when half of the companies received losses from sales even at rising prices. With the growth of the total net profit, taking into account “Victory” up to 100 billion rubles. The level of profitability in net profit was 6.3% and has not changed much in annual terms, despite the growth of revenue, the analyst continues. Part of the profit, she clarifies, was “eaten” with growing expenses for the service of the park, the wage fund and interest expenses.
In 2022, experts explained “Kommersant” the financial results of carriers by the serious influence of the “antisancation” subsidy of 100 billion rubles. and other measures of state support. According to the results of 2023, positive results were regarded in many respects under the influence of transactions of insurance settlement and recalculations of leasing payments into rubles after re -registering aircraft to Russian ownership.
The results of 2024, among other things, were determined by an increase in the number of international flights, traditionally more marginal than internal ones, said Alexander Gushchin, director of the corporate ratings of ARKRA.
According to the Federal Air Transport Agency, if 84.7 million passengers were transported on flights in 2024 (2%growth), then 27 million people (an increase of 20.1%) on international ones.
At the same time, Mr. Gushchin considers general -male indicators “logical and predictable”. “The tracking track was set back in 2023, and carriers learned to balance in the market, carefully working with operating expenses,” he notes. At the same time, the analyst does not expect rising prices for transportation markedly higher than the inflation level, despite the predicted deficiency of freight capacities. In his opinion, carriers will prefer to maintain “fragile market balance”, in which both price dumping of individual carriers and a sharp increase in prices in most airlines are hardly possible.
The favorable industry financial result in 2024 should not reassure, says Oleg Panteleev, Executive Director of the Aviaport agency. The dynamic cost of costs was observed last year and will remain in the present. But the purchasing power of the population will no longer « run ahead of tariffs. » As Mr. Panteleev explains, the carriers would probably have been able to maintain a high income rate, since against the background of a deficiency of freight containers they can simply cut off the lower segment of demand, but there are two problems.
Firstly, the expert indicates, the authorities expect transportation from airlines, and commissioning a large number of domestic aircraft is very expensive. Secondly, he continues, from the part of individual politicians and officials, persistent calls continue to sound limiting the prices for flights. According to Oleg Panteleev, this will almost inevitably lead to a deficiency of tickets for peak dates. The dynamic pricing today, he continues, gives the opportunity to « those who really need it, albeit exorbitant prices, but fly away. » This is also confirmed by the growth of sales of business class tickets, which is also favorable for the airlines, due to greater profitability, the expert indicates: “If the economy is completely sold out, and the passenger needs to fly, then in some cases he will fly by a business class” (See “Kommersant” from April 22).
Anastasia Egazaryan says that this year, the revenue of air carriers with nearby growth or a slight decrease in passenger traffic will be determined by the price factor-the revenue indicators on the kilometer armchair: “We expect a certain cooling of the revenue growth to the kilometer to the level close to inflation.” This year, the Federal Air Transport Agency is expected to reduce the passenger traffic by Russian airlines by about 1.7%, to 109.7 million people, the head of the agency Dmitry Yadrov told reporters in February.
