Aeroflot really should not be an airline that is doing well. Economic sanctions against Russia, the decline in the value of the ruble, and the resulting weakness in key markets are all ingredients for crisis. But unnoticed by many in the industry, the carrier has been undergoing an unusual transformation in the past seven years. And it is not finished yet. In 2009, Aeroflot carried 11.1 million passengers; by last year, that number was almost 40 million. Revenues quadrupled, to 415 billion ...


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