The attractiveness of Uzbekistan Airways, which bought its aircrafts on lease, is low. We need to boost the company's attractiveness before selling some of its shares, said the Transport Minister/Chairman of Uzbekistan Airways Ilhom Mahkamov.
Ilhom Mahkamov took questions from journalists on April 28 on the privatization of the company.
“In order to privatize the airline, we need to be able sell it at a good price. To sell at a good price, we need to boost its attractiveness. In today’s pre-reform policy, all aircrafts are purchased on lease. With such a debt burden, the attractiveness of an airline with such a business strategy will be low.
We need to increase its attractiveness rather than sell it at such low prices. That doesn’t however mean that we aren’t willing to sell. This does not mean that the airline will always be under the control of the state. There are steps that are being achieved step by step during the transformation process. By doing them, of course, in the end we will sell some of it to the private sector, to good partners.
But now it is too early. The company's attractiveness is low, he said.
The Minister of Transport also briefed about the eastern airport project in Kibray and houses that are to be demolished.
Mahkamov said it was clear that an eastern business aviation airport would be built in Kibray.
