MOSCOW, August 17 (RIA Novosti) - Frankfurt-based Deutsche Bank AG, Germany's largest bank, has increased its stake in Russia's flagship airline Aeroflot [RTS: AFLT] from 1.8% to 8.8%, the carrier said Friday.
The company also said Grabor Trading Overseas Ltd had cut its stake from 12.3% to 4.6%. The trading company is owned by National Reserve Corporation (NRC), controlled by Russian billionaire lawmaker Alexander Lebedev.
The government holds 51.1% in Aeroflot, which accounts for 23% of the country's air passenger flow. The company saw a 16.4% rise in passenger numbers in January-July year-on-year, to 4.6 million people.
In 2006, the airline's net profit was 7.9 billion ($310 million) rubles calculated to Russian Accounting Standards and $258 million according to International Financial Reporting Standards.
