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. Last Updated: 07/27/2016

Aeroflot Profit Jumps as Fares and Sales Rise

Aeroflot said Tuesday that 2006 profit jumped 32 percent as it sold more tickets and raised prices.

Net income rose to 7.98 billion rubles ($307 million) from 6.03 billion rubles in 2005, Aeroflot said in a statement. The numbers are based on Russian accounting standards. Passenger traffic increased 17 percent, the company said.

Mikhail Poluboyarinov, Aeroflot's deputy CEO for finance and planning, on Jan. 31 said the company's nine-month profit to international standards had risen because of passenger growth and higher ticket prices.

Also on Tuesday, Aeroflot spokeswoman Irina Dannenberg confirmed that Aeroflot may invite a Western airline to join its bid for Alitalia, as the state-run Russian carrier seeks its first acquisition outside the former Soviet Union.

Aeroflot will decide on a possible partner within two weeks, Dannenberg said, confirming remarks by CEO Valery Okulov that were reported by Interfax.

The government last year pressed Aeroflot to buy local rivals to help consolidate the national aviation industry's 180 airlines. Aeroflot's bid follows the authorities' moves in the past year to combine Russia's plane-making companies and invest in the European Aeronautic, Defense & Space Co.