In 2012, the transport of passengers by air transport suffered a loss of 33.2 million manats. And this was despite the increase in passenger traffic (+14.3%) and revenue (+24.1%).
Airlines in Azerbaijan, as opposed to foreign, do not publish financial reports and the media do not provide financial figures. The only source of information is the only State Committee on Statistics, which provides summary data on income and expenditure on passenger transport by air transport. In the State Statistics Committee they told Turan that in 2012 the income of the three airlines (Azerbaijan Airlines, Turan Air and Silk Way Business Aviation) amounted to 225.6 million manat. The costs for companies on the transport of passengers amounted to 258.8 million manat, increasing by 5.7%.
In 2012, Azerbaijan Airlines achieved a record number of passengers during the independence -1.6 million. The share of state-run AZAL accounted for 98.5% of traffic and possible loss. - 08B-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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