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Azerbaijan Hava Yollari operates passenger flights to countries of Europe, the CIS, Middle East and Asia. Content
About the Company
External factors affecting the Entity
Internal factors affecting the Entity
Investment and Investment activities
Structure of the entity and how it is financed
Objectives and strategies, and related business risks
Key Entity Personnel
Location. Headquartered situates in Baku, it is a member of the International Air Transport Association (IATA). Trends
Closed Joint-Stock Company "Azerbaijan Airlines" became a leader among competitors in the region and among the airlines of the CIS countries due to the number of new aircraft and increasing of flights.
Aviation industry is governed by next legislations:
Aviation Law of the Republic of Azerbaijan (№ 944-IIQ)
Law “About natural monopoly”
Law “About transport and forwarding activity”
Law Concerning the Specialties of Management and Handling the Aviation Transportation Property.
Law “ About Regulations on the Administration of Civil Aviation of the Republic of Azerbaijan " (№565)
General business environment
Azerbaijan's economy, as of 2010, ranked 76th in the world in terms of GDP (purchasing power parity).
GDP (nominal) - $ 51.787 billion (2010) PPP GDP - $ 88,676 billion
GDP per capital at PPP - $ 9809
Inflation (CPI) - 7.7% (2010 ) . The company’s administration consists of five sections:
Control of the flight safety department;
Department of Aviation Safety;
Department of Licensing and registries;
Department of Foreign Affairs;
Department of Finance and Economics. Interrupted flights
• Baku - Kabul - Baku
• Baku - Delhi - Baku
• Baku - Karachi - Baku
(discontinued flights from 2006-economically unprofitable). Operation Activities
The company AZAL (as of May 2010), operates regular flights to 17 countries.
Scheduled to open in 2013.
Baku - Beijing - Baku
Baku - Hong Kong - Baku
Baku - Prague - New York - Prague - Baku
Baku - Belgrade - New York - Belgrade – Baku A codeshare agreement is an aviation business arrangement where two or more airlines share the same flight.
Azerbaijan Airlines CJSC has code-share agreements with the following companies:
Deutsche Lufthansa AG
Delta Air Lines Operational capacity
Fleet In operation – 29, Ordered - 8
Helicopter – in operation 0, Ordered – 8
Destinations - 32
The total number of airports as of 2007 was equal to 35 Key suppliers
The company’s main suppliers include:
ECC Leasing Co LTD
Airbus Industry S.A.S
Avions de Transport Regional G.I.E.
The Boeing Company
CIT Aerospace Inc
Macquarie AirFinance Ltd
AJW Capital Partners Ltd
Embraer LTD Related Parties
Azerbaijan Airlines "Cargo Aircraft Company;
"Azalaqro" Yevlakh Aviation Company;
National Aviation Academy;
Heydar Aliyev International Airport;
"Ganja" International Airport;
"Nakhchivan" International Airport;
“Zaqatala” Airport; “The authorized capital of the organization is 784.97 million AZN .
And consist from 392.487 million shares with face value 2 AZN per each ”
The government owns the WHOLE package of shares.
AZAL received the largest share - 261.1 million pounds from the budget in 2011 year AZAL going to purchase "А-340" aircraft grade "Airbus" this spring. Earlier, the "Azerbaijan Airlines" ordered 4 new E-190 aircraft from Brazilian "Embraer SA" company. The total value of the order is 180.8 million $ .
In 2014, plans to open permanent routes to North America and South-East Asia . Significant cash flows:
payments to suppliers of services - determined by the daily payment schedule
cash received from customers
purchases of fixed assets - determined by the annual budget
receiving and paying off loans - determined by the annual budget Investment Policy
the Entity considers investments into fixed assets.
"Azerbaijan Airlines" continues to increase the number of international flights. The most important task of" Azerbaijan Airlines "is to ensure the safety
Today safety standards of "Azerbaijan Airlines" fully comply with the highest international standards.
Results of audits of the largest and most respected in the world of Civil Aviation - ICAO, presented in February 2010, show a high level of safety "Azerbaijan Airlines" The Company maintains its accounting and statistical records in accordance with the laws of the Republic of Azerbaijan.
The first financial year of the company begins from registration moment and ends on December 31. The next financial year begins on January 1 and ends on December 31.
The company is subject to the taxation laws of the Azerbaijan Republic. KEY ENTITY PERSONNEL
Jahangir Askerov - President
Sabir Ilyasov - First Vicepresident
Arif Mammadov - Vicepresident
Fuad Quliyev - Direktor
Haciaga Aliyev - Deputy Director
Elesker Abdullayev - Senior Legal Consultant
Natella Kerimova - Senior HR Consultant
Ilham Panahov - Senior adviser on communications
Inam Asadov - Director assistant
R.A Quliyeva - Chief Accountant Country– Azerbaijan, City- Baku
Heydar Aliyev International Airport
tel.:(+994 12) 497-26-00
+994 (12) 437-47-57
fax:(+994 12) 598-52-37
84, Nizami street, AZ-1010
tel.:(+994 12) 598-88-80
fax:(+994 12) 437-40-87
e-mail.: email@example.com ; Thank You for attention :) Audit Planning by Farida Agayeva "Azeraeronavigation" Air Traffic Control;
Office of Aviation Safety;
"AzalOil" Department of combustive-lubricating materials;
Technical Services Department of the aircraft;
Department of International Trade;
Branches and Representative offices. Audit risk
1) Flights were delayed or canceled , the client has suffered material injury and the company has not recognized this in its liabilities.
2) Submit overdue snacks, causing the client has suffered physical damage (not recognized by the company)
3) The aircraft crashed and caused material damage to the physical / legal entity (nature).
4) The airline company consisting in "code-sharing" agreement didn't inform which company is the operator on this flight.
5) Do not concluded agreements on liability to the accountable persons;
6) Improper documentation on arrival and consumption of materials;
7) Do not conducted an annual inventory.
8) large number of unused materials stored in the warehouses;
9) Incorrect accounting of VAT on incoming materials;
The list of the Competitors:
SW Business AV