Losses of Subway Grow

At the end of 2015 the losses of CJSC Baku Subway amounted to 28.3 million manat, which is 2.7% more than in the previous year. This was stated by the financial report on April 22.

Last year, the subway earned 43 million manats, about 1 million more than in 2014. To cover the losses, the subway was provided grants from the state budget (37,998,199 AZN). Other income of CJSC Baku Subway in 2015 amounted to 9.5 million manat (+ 7.2 million AZN).

The main costs regard the subway staff salaries and wages. In 2015 (42.7 million manat) this did not change. About as much as in 2014 was spent on the purchase of materials – nearly 11.4 million manat. In 2015 the subway used electricity in the amount of 7.66 million manat (+ 2.2%).

In 2015 CJSC Baku Subway was allocated 374,300,000 AZN for investment purposes - 2.5 million manat less than in 2014.

As of January 1, 2016 the subway assets reached 2 billion 226.7 million AZN. This is 10.7% more than the year before.    -----08B