Process of privatization of Uzbekistan airways has begun

The process of privatization of Uzbekistan airways has begun in Uzbekistan. A professional consulting company will be selected on a competitive basis to develop a strategy for the company's privatization
The State Assets Management Agency has announced a tender to select a professional consulting company to develop a strategy for the privatization of Uzbekistan Airways.
All local and foreign interested applicants are invited to submit their proposals as requested by 18:00 September 17 of the current year.
“By a presidential decree dated April 8, 2022, it provides for the start of work on putting up for auction a state share of 51% or more in the authorized capital of Uzbekistan airways JSC, including through a public offering (IPO) of shares, by September 1, 2022,” explained in the message.
The privatization of assets in the civil aviation sector of the Republic of Uzbekistan is aimed at achieving the following goals:
- development of competition in the sector and reduction of state participation in it;
- increasing the efficiency of the use of all factors of production, including material, human and financial resources;
— increasing the amount of private investment for the development of the sector.
Terms:
The scope of the consultant's services under this project will be divided into two phases.
If the consultant comes to the conclusion that the sale of the state share of JSC Uzbekistan airways at the consolidated level is inappropriate, then the consultant should provide recommendations on the further sale of the state share at the level of individual assets.
Information about the company:
Uzbekistan airways operates regular flights to more than 50 destinations, including countries in Europe, Asia and North America. Representative offices of the airline operate in more than 20 cities around the world.
In addition to the main activities, Uzbekistan airways includes Uzbekistan airways technics LLC (aircraft maintenance), Uzbekistan helicopters LLC (special aviation), O "Quv-mashgulot markazi LLC (educational activities) and Ketring LLC (flight meals).
At the end of 2021, the enterprises received a net income of 6.3 trillion soums and a net profit of 53.7 billion soums, the authorized capital is 4.2 trillion soums.