AERZY - Aeroflot: Only Subsidies Would Help
Aeroflot (AERZY) balances between declining purchasing power in the domestic market and stable but still high fuel prices, which is not encouraging at all. There's still hope for decent dividends for 2019 due to fuel subsidies, but even in the most positive-case scenario, investors will get a 6-7% dividend yield, where 2-3% corresponds to a "core" yield and 4-6% corresponds to subsidies. Therefore, there's nothing interesting here for investors in terms of dividends compared to other Russian dividend stocks.
Q3 Results
In Q3 2019, revenue grew to 212.5 billion rubles (+6% Y-o-Y and