As of the first nine months of 2025, Uzbekistan Airways reported a net profit of 710.2 billion soums, which is 44% higher than the same period last year (494 billion soums). The airline's revenue increased by 6.6%, rising from 12.9 trillion soums to 13.7 trillion soums.
This information was stated in the company's quarterly report based on National Accounting Standards (NBUS). The cost of sales amounted to 11.70 trillion soums, while the gross profit was 2.02 trillion soums, close to last year's figure of 2.01 trillion soums.
Meanwhile, operating expenses almost halved, dropping from 1.43 trillion soums to 772.2 billion soums. This reduction was largely due to decreased administrative and other operational costs.
As a result, operating profit increased by 63%, reaching 1.46 trillion soums. However, financial operations showed a decline: financial income amounted to 891 billion soums, while financial expenses rose to 1.51 trillion soums.
This resulted in a net loss in the financial segment. A significant portion of the expenses was due to interest payments (382 billion soums) and exchange rate differences (1.13 trillion soums).
At the same time, currency revaluation and interest income did not meet expectations. Nevertheless, total profit from economic activities reached 841 billion soums (compared to 586 billion soums last year), and net profit increased to 710.2 billion soums (+44%).
Net sales profitability improved from 3.8% to 5.2%, indicating better efficiency in core operations despite financial expenses exerting pressure on final profits. Uzbekistan Airways remains the leading airline in the country and continues to increase passenger traffic.
A quarter of the company's shares are owned by the National Investment Fund (UzNIF), which aims to proceed with an IPO and place part of its assets in the open market.
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