Losses of air companies on passenger carriages exceed 25 million manat

In the first half of 2012, revenues  of Azerbaijani air companies totaled 90.3 million manta, by 25.2% more than in the same period last year. However, the air companies had large losses. 

In contrast to the foreign air companies, neither state airline CJSC "Azerbaijan Airlines", nor private Ltd. "Turan Air" publish reports on financial and economic activities. Although AZAL, in compliance with the law, is required to publish the annual financial report. The only source of information on the results of their activity is State Statistical Committee (SSC), which provides summary data. 

According to the SSC, in January-June, local air companies  spent on  passenger carriages 115.7 million manat, by 4.8% less than in the same period of 2011. Thus, the losses on passengers  carriages totaled 25.4 million manat. It is noteworthy that over the reported period  local airlines  carried 685.200 passengers. This is by 14.5% more than in the same period of 2011. The share of AZAL  is 98.5% of passenger  traffic. 

State Statistical Committee told Turan, that in 2011, with  total income AZN 181.8 million (+37.4%) losses  of airlines reached 63.1 million manat.  08B