The cargo airline Silk Way Airlines today announced the lowering of the authorized capital to AZN 24,297,430. The reasons for this step of the leading private airline in Azerbaijan are not reported.
Prior to this decision the capital of the founders of the airline was 36.8 million manats. Thus, the capital of the airline was reduced by 34%, as much as lost "all" the Azerbaijani manat against the US dollar in February this year.
Silk Way Airlines LLC was established in 2001. The company belongs to investors, who founded a British entity.
It should be noted that the company Silk Way Airlines is a subsidiary of the company Silk Way West (2011) with registered capital of 15.5 million manats. The airline has the control of commercial Bank Silk Way. The authorized capital of the bank amounts to 101.5 million manats. ---08B
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