At the end of 2012 profit of Azerbaijan Airlines from freight transportation is 392.4 million manat. This is by 4.3% more than during the previous one, according to State Statistics Committee. Balance profit from cargo airlines including transportation expenses totaled (279.2 million manat) amounted 113.2 million manat. Profitability on traffic exceeds 33%.
In 2012, general freight in air transport was 59.100 tons, which is by 16.8% more than in 2011. In the first quarter of this year, the total cargo traffic reached 26.1 million tons, by 2.4 times more than in the comparable period of 2012. Transportation is carried out mainly outside the country.
The following companies are involved in cargo transportation in Azerbaijan: CJSC "Azerbaijan Airlines", "Turan Air", "Silk Way Airlines", and "Silk Way West". The last three belong to the group of companies "Silk Way Holding". Holding on to unofficial data belongs to the family of the President Ilham Aliyev. 08B
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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