Russian airlines face headwinds as rouble falls
The airlines have expenses in foreign currencies while many Russians have stopped travelling by plane
Moscow
THEIR international competitors may be cheering tumbling oil prices, but the collapse in the rouble has meant major financial turbulence for Russian airlines which have expenses in foreign currencies.
The rouble has slumped by 40 per cent this year against the dollar and euro, mostly due to crude oil prices falling by half in the past six months as Russia's economy is heavily dependent upon oil exports.
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