Transaero Airlines’ net loss rose by 46% in the first quarter of 2011 against the first quarter of 2010; the figures were calculated in accordance with the Russian Accounting Standards. The net loss thus came down to 350.67m RUR, the company reports.

At the same time, the company made 175.35m RUR worth of net profit in the fourth quarter of 2010.

The airline explains the drop in profits has to do with seasonal variations as well as with some extraordinary circumstances on the Russian air carrier market.