Uzbekistan Airways Triples Net Profit in Q1 2026

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan Airways, the national carrier of Uzbekistan, reported a sharp improvement in financial performance for the first quarter of 2026, with net profit more than tripling compared to the same period last year.

According to published data, the airline’s net profit reached 151.8 billion soums, reflecting a year-on-year increase of 206.1%. At the same time, net revenue remained largely unchanged at 3.9 trillion soums.

The main driver of the improved financial result was a reduction in the cost of services provided. Costs fell from 3.7 trillion to 3.3 trillion soums, leading to a significant increase in gross profit, which rose from 171.2 billion to 608.6 billion soums.

The financial report also indicates a rise in the company’s debt burden. Long-term bank loans increased from 6.8 trillion to 8.0 trillion soums, while short-term loans stood at 82.2 billion soums at the end of the reporting period.

It is noted that the Uzbekistan National Investment Fund holds a 25% stake in the airline. Based on portfolio valuation, Uzbekistan Airways is estimated at around 1.6 billion US$, with the fund’s stake valued at approximately 403.6 million US$.

Overall company indicators also show positive dynamics. Assets increased to 21.4 trillion soums, up 14.4% year-on-year. Capital reached 8.5 trillion soums, an increase of 8.8%, while retained earnings grew more than fourfold to 1.4 trillion soums.

Over the past 12 months, the company’s profit reached 1.3 trillion soums, nearly doubling compared to the previous period.