Avtovaz eyes recovery after $1.3 bln 2009 loss

Newswire

MOSCOW, April 27 (Reuters) - Avtovaz , Russia's top automaker, incurred a 38.6 billion rouble ($1.33 billion) loss in recession-hit 2009 but is counting on a rapid recovery thanks to state car sector aid, its president was quoted as saying on Tuesday. "Analysts had forecast a loss at the 1 billion euro ($1.33 billion) level. And so it will be, around 38.6 billion roubles," Igor Komarov told Kommersant business daily in an interview. "These are unhappy numbers, but we do not hide them ... ...

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