The Ministry of Economy and Finance has released a review forecasting notable financial and operational growth for Uzbekistan Airports and Uzbekistan Airways in 2024.
Uzbekistan Airports is expected to record a net profit of 511.3bn soums ($40mn) in 2024, representing a 30% increase compared to the previous year. The number of flights served is projected to grow by 27%, reaching 109,300 flights for the year, with 82,600 flights served during the first nine months. Passenger numbers are expected to increase by 27%, totaling 11.8mn passengers, up from 8.8mn passengers in the first nine months. Revenue is forecasted at 6.45 trillion soums ($502.8mn), with expenses amounting to 5.93 trillion soums ($462.3mn), resulting in significant profitability.
Uzbekistan Airways is also anticipated to achieve growth across key metrics, with a net profit of 725.6 bn soums ($57mn) expected for 2024. The airline plans to increase the number of flights by 15%, reaching 37,300 flights, compared to 32,900 flights during the first nine months. Passenger traffic is forecasted to grow by 20%, totaling 6mn passengers, up from 4.6mn passengers in the first nine months. Revenue is projected to exceed 20.1 trillion soums ($1.6bn), while expenses are estimated at 19.4 trillion soums ($1.5bn).
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