Authorized Capital of CJSC Azerbaijan Airlines Reached 830 Million Manat

The Cabinet of Ministers issued a decree on increasing the share capital of CJSC Azerbaijan Airlines by the issue of new shares. The capital of the Airlines increased 4.9 %.

The action was taken on August 19 and made ??public only the day before. According to it, the share capital was increased by airlines AZN 39 million to 829,974,470 manats. The number of shares increased to 411,987,235 shares, 100 % of which are at the state on behalf of the State Committee for Property Affairs.

CJSC Azerbaijan Airlines is one of the few state-owned companies, which contrary to the law does not publish annual financial statements, subject to the passage of the audit.

Raising the capital of the Airlines is possibly due to the commissioning of new airports and the purchase of new aircraft. Under the legislation, investment in fixed assets of state structures is to be directed to their authorized capital.

CJSC Azerbaijan Airlines was established in April 2008 based on the eponymous state concern.

At present, the largest of the state economic structures on the size of share capital is AzerEnergy. In 2012, the producer and the primary manager of energy in Azerbaijan brought the share capital to 1.76 billion manat, increasing it by 200 million manat. - 08D-