Losses of airlines in passenger traffic exceeded 16 million manat

In the first half of 2013 carriers of passengers by air transport, despite an increase in passenger traffic by 8.7 % suffered a loss of 16,250 thousand manats.

According to the State Statistics Committee, the income of the three airlines (Azerbaijan Airlines, Turan Air and Silk Way Business Aviation) for passenger traffic amounted to 113 850.6 thousand manats. This is 17.4 % more than in the first half of 2012. Costs for companies amounted to 130.1 million manat, increasing by 6.2 %.

Airlines in Azerbaijan do not publish statistics on corporate sites and financial reports. The state airline CJSC Azerbaijan Airlines in compliance with regulatory and legal acts is required to publish annual financial statements, but does not fulfill this requirement. Given that in the first half of 2013, 99.2% of passenger transport accounted for AZAL, its losses are also significant. The airline has never commented on the reasons for loss-making activities. Over the past few years, AZAL purchased liners under a state guarantee. Part of the cost of aircraft was paid for by the state budget.

In January - June 2013 the Azerbaijan airlines transported 746.5 million passengers. In the first eight months of this year, the number of passengers reached 1,120 thousand (5.1%), of which 99.4 % were passengers of AZAL.

In 2012, the carriers of passengers transported by air transport 1.6 million (+14.3 %), and thus suffered a loss of 33.2 million manats. - 08B-