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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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