OAO RosSpetsSplav reports its net profit decreased by 68.44% in the fourth quarter of 2010. The company explains this has to do with increased managerial expenses and decreased sales profits.

Orenburg Airlines won’t be able to operate chartered flights from Moscow to Larnaka and from Larnaka to Ufa. Rosaviation motivated its refusal by the fact that no agreements had been reached with the already appointed carriers. ‘We applied for the agreements with the appointed carriers, but our application was rejected,’ the Association of Russian Tour Operators’ website quotes Orenburg Airlines Commercial Director Sergey Lazarev as saying. Now under the Transportation Ministry’s Order No. 2, to start operating chartered flights an airline needs not only the aviation agency’s approval but

OAO Pnevmostroymashina finished the year 2010 off with 103.81 million RUR worth of losses, the company reports. As it happens, the year 2009 was rounded up with 355.71 million RUR worth of losses. In January 2010, the company was actually ordered to undergo bankruptcy proceedings for one and a half years.