Manas International Airport OJSC tells on actual state of company’s affairs

On June 5, 2018 the Kyrgyz Parliament’s Committee for Transport, Communications, Architecture and Construction heard information on ongoing work to develop airports, which are part of Manas International Airport (MIA) OJSC.

During the Committee’s work, some members of the Parliament expressed their dissatisfaction with the results of the MIA OJSC activities, and the response of the company’s management about the growth of profits and the development of regional airports did not correspond to reality at all.

Once again, the MIA OJSC told some details and clarifications of the real state of affairs thus answering the parliamentarians’ questions.

One of the PMs does not believe that the airport’s profit is growing. Financial indicators of MIA OJSC demonstrate steady growth. At the end of 2017, revenues amounted to KGS 4.2 billion (USD 1 = KGS 68.4). Since 2013, net profit increased by 71 percent, or by KGS 763 million, reaching the level of KGS 1.845 billion.

For the last five years, the number of flights served increased by 21 percent, reaching 31,956 flights for arrivals/departures, passenger traffic increased by 48 percent and amounted to 3,586,337 passengers by the end of 2017.

It should be noted that until mid-2014, the Transit Center (Gansi Airbase) was based at the Manas International Airport. As regards the MIA OJSC revenue structure, the revenues from servicing the TSC reached 70 percent (for example, in 2011 the total revenue of MIA OJSC was KGS 2.9 billion, of these, revenues from the TSC amounted KGS 1.8 billion.

Despite the forecasts on the deterioration of the financial condition for MIA OJSC after the completion of the TSC, MIA not only succeeded in replacing the loss of revenue from the TSC services, but it also improved the financial situation as a whole.

The MIA OJSC maintains its accounting records in accordance with IFRS, annually the financial statements are confirmed by an independent audit and approved by the general meeting of shareholders, and the Accounting Chamber of the Kyrgyz Republic conducts a routine audit of financial and economic activities.

The company does a lot of work to develop airports. So, in the last few years several projects have been implemented at airports in the south of the country including the international airports in Osh, Batken and Jalal-Abad. The reconstruction of terminal buildings was completed, luggage delivery equipment was installed, waiting, arrival and inspection rooms were expanded. It is worth noting that the last time overhaul there was held back in Soviet times. Today, design work is carried out at the airports in Isfana, Kazarman and Kerben.

In addition, the project on the Issyk-Kul International Airport was completed, now the airport can take aircraft both during days and nights.

Of course, we do not forget the most important airport in the country – Manas, where work is underway to expand the terminal in the eastern and western directions. The sterile area has been expanded to increase the capacity of the terminal. New information signs, two new panoramic elevators, lifts for people with disabilities have been installed, and a third line of luggage delivery equipment has been installed in the arrival zone. At this the company does not stop.

Another MP found the reason for the underdevelopment of the Kyrgyz airports: the industry is managed by zoo technicians. People who work at the enterprise, especially in the public service, have the appropriate education. Some have two or even three diplomas. The requirements for modern top management are very high. Emir Chukuev, Chairperson of the Board, MIA OJSC, for example, graduated from the Agricultural Institute named after Skryabin, received a specialty of mechanical engineer. He also received his ‘Social Management’ master’s degree in the Academy of Management under the President of the Kyrgyz Republic. He also has an academic military education – a diploma of the Security Academy (Moscow, Russia). Not always the determining factor for working in commercial enterprises is the availability of special education, which is what the results of MIA OJSC’s activities say.

Deputies also touched upon the issue of prices for air tickets, but Kyrgyz airports are not entitled in installing and regulating prices for air tickets, as this is not airports’ competence.

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