Income from passenger carriages in the first quarter of 2012 by the national civil aviation operators totaled 39.6 million manta; this is by 26.8% more compared with the same period in 2011. However, companies did not get rid of large losses.
The State Statistics Committee (SSC) told Turan, the airlines have reduced by 2% expenditure on passenger transport, which totaled 51.4 million manat. Thus, the losses from passenger carriages in air transport totaled 11.8 million manta; in 2011 losses of airlines reached 63 million manat.
In the first quarter the local airlines carried 310.700 passengers (14.6%). According to SSC, over five years 820.200 passengers were carried, by 16.1% increase of the same period in 2011. The share of the state JSC "Azerbaijan Airlines" totaled 98.5%. The share of the other passenger airlines "Turan Air" totaled 1.5%. 08B
Economics
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
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SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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