12:40 - 1.03.2023

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March 1, Fineko/abc.az. The authorized capital of Silk Way West Airlines LLC, a subsidiary of Silk Way Holding, which operates cargo flights in Azerbaijan, has been increased to AZN 180 million.

ABC.AZ reports that company’s authorized capital has been increased by AZN 3,587,752 or by 2% to AZN 179,387,584.

The last time the authorized capital of the airline was increased in the 3rd quarter of 2022 by AZN 3,708,664, or 2.16%, to AZN 175,799,832.

This is the company that regularly carries out cargo transportation between Azerbaijan and foreign countries and in 2021 received net profit of AZN 920.23 million. This net profit saved the company from losses in the amount of AZN 31.58 million accumulated until 2021, and even paid dividends to shareholders in the amount of AZN 680.2 million, in addition, retained earnings in the amount of AZN 175.8 million remained on the balance sheet as of 1 January 2022.