Does Synergy Group Enter Aviation Sector?

The state registration of the company Synergy Jet took place on April 30. As the name implies, there may appear the third private airline.

According to the Ministry of Taxes, the legal address of the company is a new business center Yeni Hayat in Baku. Here are the headquarters, as well as many subsidiaries of two major holdings of Azerbaijan – Ata Holding and Synergy Group.

The charter capital of LLC Synergy Jet is 10,000 manat. Director of the Company is Sabuhi Aliyev, who formerly worked in Ata Bank.

The group of companies Synergy Group refused to answer Turan about the legal Turan against this holding to the newly created company, its field of activity and plans for the current year.

According to the financial report of Synergy Group, its shareholders have invested in the activities of holding companies in 2010-2013 164.7 million manat, including 71.7 million manat in 2013. As of December 31, the consolidated loss of the holding exceeded 33 million manat.

JSC Synergy Group, which includes no less than 30 companies in various spheres of activity, was established in April 2010. Since late last year, after the holding included JSC Caspian Development Bank (formerly Kovsar Bank), it is considered a financial and industrial group.

The holder of 99% of the stake in the group is Ashraf Kamilov, who, according to other official reports, is also the final beneficiary of Industrial-Construction Investment Corporation Accord. ----08B