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9.2.2 Automotive corporate news
Russian car maker AvtoVAZ has resumed manufacturing of the Lada Largus cars on its plant in Tolyatti and will produce 650 cars of the model in August, the company said in a statement on Monday.
Former plant of Volkswagen in Kaluga can start producing cars in 2023,
Industry and Trade Minister Denis Manturov said on August 15on the sidelines of the forum Army-2023.
Investment group of companies Insight has acquired the leasing unit of Renault RNL Leasing, according to the information seen by PRIME on the united register of legal entities on August 14. The company confirmed the acquisition but did not disclose the amount of the deal. "We confirm that investment group of companies Insight bought a 100% stake in RNL Leasing and its affiliate RNL Finance (a 100% affiliate of RNL Leasing). We do not disclose the amount of the deal," a spokesperson for the company said.
9.2.3 Aviation corporate news
Operating profit of Aeroflot Group amounted to 2.3bn rubles ($24mn) in Q2 2023, the company’s press service reported citing First Deputy CEO Andrey Chikhanchin. "In the second quarter we managed to bring the group to operating profit in the amount of 2.3bn rubles," he said. Q2 revenue from passenger traffic reached 129bn rubles, up by 73.8% y/y, the press service noted, adding that total revenue amounted to 139bn rubles, up by 72.2%.
Net profit of UAC (United Aviation Company) under the International Financial Reporting Standards (IFRS) for the first half of 2023 amounted to 4.4bn rubles ($46.03mn) against a net loss of 13.3bn rubles ($139.14mn) a year earlier, the company said on Tuesday. The company's revenue amounted to almost 188bn rubles ($1.96bn) against 118bn rubles ($1.23bn) a year earlier. UAC profit from operating activities reached 236mn rubles ($2.47bn) against a loss of 5.5bn rubles ($57.53mn) a year earlier.
Russian airline Utair posted a net loss of 1.895bn rubles in January–June after a net profit of 4.137bn rubles in the same period of 2022, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday. Revenue went up by 17.1% on the year to 43.111bn rubles. Long-term liabilities of the company decreased by 2.1% to 51.323bn rubles, while short-term liabilities grew by 36.6% to 34.784bn rubles.
RUSSIA Country Report September 2023 www.intellinews.com