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Russian transportation minister heads Aeroflot board

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The board of directors of Russian flagship air carrier Aeroflot has elected Transportation Minister Igor Levitin as its chairman, Aeroflot said on Tuesday.
MOSCOW, October 28 (RIA Novosti) - The board of directors of Russian flagship air carrier Aeroflot has elected Transportation Minister Igor Levitin as its chairman, Aeroflot said on Tuesday.

The board was previously headed by former presidential aide Viktor Ivanov, who stepped down after being appointed head of the national drug control service.

After Ivanov's resignation from the Aeroflot, the air carrier's board was without a chairman for several months.

Two weeks ago Aeroflot said that its consolidated net profit for the first half of 2008 calculated to International Financial Reporting Standards (IFRS) fell 55% year-on-year to $72 million.

Mikhail Poluboyarinov, Aeroflot's deputy general director for finance and planning, earlier warned that Aeroflot's IFRS net profit could fall almost 67% in 2008 to $80-85 million.

The airline's IFRS net profit for 2007 was $313 million.

Aeroflot carries more than 8 million passengers annually and a further 2 million on its subsidiary airlines. The airline flies to 96 destinations in 49 countries.

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