May 30 (Reuters) - Russia’s biggest airline Aeroflot reported on Wednesday a first-quarter net loss of 11.54 billion roubles ($184.49 million) as fuel and staff costs outweighed revenue growth.
In its first ever publication of quarterly results, Aeroflot said the net loss more than doubled from the 5.34 billion roubles reported a year ago.
Aeroflot’s fuel costs surged 24.1 percent due to rising crude oil prices. This resulted in operating costs rising 14.3 percent to 123.54 billion roubles.
Aeroflot’s shares, though, were up 5 percent to 138.50 roubles as of 0825 GMT after the company recommended on Tuesday a larger than expected dividend for 2017.
$1 = 62.5493 roubles Reporting by Anna Pruchnicka; Editing by Mark Potter