Tashkent, Uzbekistan (UzDaily.com) – The net profit of Uzbekistan Airways for the second quarter of 2024 reached 269.0 billion soums, which is 5.41 times higher than the figure for the same period in 2023, when the profit was 49.7 billion soums.

The key factor in the significant profit growth was the reduction in financial activity expenses, which decreased from 1.2 trillion soums to 552.4 billion soums.

The company’s retained earnings by the end of the quarter reached 118.2 billion soums, whereas the same period in 2023 recorded an uncovered loss of 149.9 billion soums. Additionally, long-term bank loans decreased from 8.0 trillion soums to 7.1 trillion soums year-on-year.

The company’s revenue for the second quarter amounted to 7.6 trillion soums, which is 12.9% higher compared to the same period last year.

Gross profit for the reporting period decreased by 23%, amounting to 746.9 billion soums.

The assets of Uzbekistan Airways grew to 18.6 trillion soums (+1% year-on-year), while equity capital reached 8 trillion soums (+5.8% year-on-year).