Russian flag carrier Aeroflot has announced that it will not publish financial results for the first quarter of 2022, citing shareholders’ inability to “make investment decisions”.
“Disclosure of material information in the current circumstances may put a number of stakeholders in a better position in relation to others, which goes against best practice in corporate governance and does not act in the best interests of the Company’s shareholders,” Aeroflot outlined in a statement dated May 5, 2022.
The news comes two months after Aeroflot suspended most of its international flights. Since February 24, 2022, when Russia launched its invasion of Ukraine, Aeroflot has been steadily reducing its international network.
Flights to Ukraine and adjacent regions were canceled on the first day of the invasion, and flights to various European countries stopped following the announcement of numerous Russian sanctions imposed in the days that followed.