Revenue from cargo transport increased by 25 %
In the first half of this year, the Azerbaijani Airlines carried cargo totaling 214.7 million manat. This is 25 % more than in the comparable period of 2012, the State Statistics Committee told Turan. The volume of freight traffic grew 1.9 times and amounted to 54.7 thousand tons.
Profitability of freight traffic in the first half of the year was 29% . At a cost of 166.4 million manat, airline tax profit amounted to 48.2 million manat. This year, the cost of cargo transport you grew by 34.8%.
Cargo transportation in Azerbaijan is performed by Azerbaijan Airlines, Turan Air, Silk Way Airlines, and Silk Way West. The last three belong to the group of companies Silk Way Holding. The bulk of shipments is accounted for by this holding, which operates largely outside the country.
According to the SSC, the first eight months of this year, the volume of freight traffic on local air transport airlines reached 73.8 million tons, up 92.6 % over the same period last year.
In 2012, general freight in air transport was 59.1 thousand tons, which is 16.8 % more than in 2011. - 08D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review