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Airlines in Azerbaijan, as opposed to foreign, do not publish financial reports and the media do not provide financial figures.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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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