For the nine months, revenues of the Azerbaijani airlines in air passenger traffic totaled 159,531.6 thousand manats, which is 16.2% more than in the same period last year. However, the airlines are working with large losses.
The State Statistics Committee told Turan, that airline losses for three quarters reached 38 mln. The main part of the loss falls on monopoly - the national airline of CJSC Azerbaijan Airlines. In January-September, local airlines to transport passengers spent 197.6 million manat, which is 817.8% less than the same period of 2011.
The share of the second airline Turan Air accounts for only 1.5% of traffic and the situation is similar.
For the 10 months of the year local airlines transported 1,363.1 thousand passengers. This is 14.8% more than in the same period of 2011. The share of AZAL was 98.5% of the passenger traffic. - 08B-
Economics
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The first Russian-Iranian joint LNG plant is planned to be built in the Chelyabinsk region by 2027, as reported by Nikolai Isakov, Vice President and Executive Director of the Russian Gas Society. The joint venture will be developed by Kriogaz Chelyabinsk (Russia) and North-South Corridor Development Group (Iran).
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The Southern Gas Corridor (SGC) will expand by at least 1.2 billion cubic meters per year starting from January 2026, thanks to the capacity increase of its European segment, the Trans Adriatic Pipeline (TAP). By this time, the potential for transporting a blend of hydrogen with other low-carbon gases through TAP is expected to become clearer.
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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