Aviation Revenues from Cargo Transport Increased by 16.9%

In the first half of 2016 the revenues of airlines on freight traffic amounted to 300.5 million manats, which is 43.5 million manat or 16.9% more than in the first six months of 2015. Turan was told in the State Statistics Committee.

On the carriage of 71,600 tons of cargo the airlines spent about 254 million manats. The expenses increased by 17.2%. Thus, in the first half of this year, the airlines gained a balance profit of 46.5 million manats (+6.2 million AZN). As a high probability, the airlines also have considerable profits from the difference in the exchange rate of AZN and freely convertible currencies, as virtually all the volume of traffic is carried outside Azerbaijan.

In 2015, the revenues of airlines on freight traffic totaled 531.1 million manats, 1.5% less than in 2014. The balance profit of the airlines exceeded 82 million manats.

In January-August 2016 the volume of freight transportation of Azerbaijani airlines reached 99,000 tons, an increase over the eight months of 2015 by 23%.

In Azerbaijan, there are four national carriers, and one of them (CJSC Azerbaijani Airlines) is state-run. The remaining three (Silk Way Airlines, Silk Way West, Silk Way Business Aviation) are included in the group of companies Silk Way Holding. Two of them - Silk Way Airlines and Silk Way West are engaged in freight transportation.  --08B