Uzbekistan Airways faces losses due to pandemic

Transport Materials 3 September 2020 11:20 (UTC +04:00)
Uzbekistan Airways faces losses due to pandemic

BAKU, Azerbaijan, Sept. 3

By Klavdiya Romakayeva - Trend:

The net loss of Uzbekistan Airways JSC as a result of termination of flights due to the coronavirus pandemic reached 767.7 billion soums ($75.5 million) in 1H2020, Trend reports citing Nuz.uz information agency in Uzbekistan.

The net revenue of the national air carrier of Uzbekistan amounted to 1.77 trillion soums ($174.2 million) in first two quarters of 2020, capitalization amounted to 5.79 trillion soums ($568.9 million), of which 4.25 trillion soums falls to the formed authorized capital ($417.6 million).

As part of the execution of the presidential decree “on measures to radically improve civil aviation” dated November 27, 2018, the Uzbekiston Havo Yollari national airline was transformed into Uzbekistan Airways and Uzbekistan Airports joint stock companies, which are one hundred percent owned by the state represented by the State Assets Management Agency.

According to the document, state shares in the authorized capital of all 11 international airports operating in Uzbekistan were transferred under the control of the newly formed Uzbekistan Airports JSC.

Uzbekiston Havo Yollari national airline was established in January 1992 as the body of the country's civil aviation. Today its fleet includes Boeing-757/767, Boeing-787-8 Dreamliner, А320, as well as Boeing-767-300BCF cargo aircraft.