Silk West Airlines released first tranche of bonds

The leading cargo airline of the Caspian region Silk West Airlines announced the first issue of bonds. Considering the possible impact of the coronavirus pandemic for future indicators and the fact that the company’s main activity and income are in foreign currency, it was decided to issue bonds in US dollars.

In connection with the weakening of the restrictions on COVID-19 and stabilizing the conditions of transportation, an increase in the number of flights is predicted, which will contribute to an increase in foreign currency revenues and ensure the timely payment of payments for the Company’s obligations.

Silk Way West Airlines bonds will provide 5% per annum for three years, and the proceeds will be directed to the fleet update. The issue of bonds will be carried out by five tranches of $ 10 million each. Bond underwriter with a par value of $ 1000 is a leading investment company Pasha Capital.

“Analyzing the forecasts of profit and tonnage of the airline, note that the expansion of the airline market will have a positive impact on business development, and profitability due to premium sales will grow faster than planned. Receipts from bonds worth $ 50 million will be used for Updates Airpark Silk West Airlines, “said Mirsamed Movsumzade, Member of the Supervisory Board Silk West Airlines LLC.

Pasha Capital was established in June 2012 and since then has become the largest investment company in the country, reaching a turnover of 10.2 billion manat due to investments in the Baku Fund for the first nine months of 2021.

Silk West Airlines, founded in 2012 in Baku, in the heart of the flush path, is the largest cargo airline of the Caspian region. Based on the territory of the International Airport Heydar Aliyev, the airline performs about 350 flights to the world through 12 specialized Boeing 747-8F and 747-400F cargo aircraft. On April 28, 2021, Silk West Airlines, expanding his fleet, has signed a strategic agreement with Boeing about the acquisition of five modern cargo aircraft 777F. Annual airline cargo turnover exceeds 420 thousand tons. The airline is constantly expanding its route network, covering more than 40 destinations, including the largest airports in Europe, CIS countries, the Middle East, Central and East Asia. Inchhongoudo-Korylk West AirlinesPrest-award “Cargo Airline 2020”.