Azerbaijan Airlines Supervisory Board held its first meeting

The first meeting of the Supervisory Board of Azerbaijan Airlines (AZAL), which was established by the Order of President Ilham Aliyev dated the 30th of March 2021, was held.

The meeting was chaired by the Minister of Transport, Communications and High Technologies of the Republic of Azerbaijan, Rashad Nabiyev. The meeting was attended by members of the Supervisory Board, AZAL President Jahangir Asgarov and other members of the Board of Directors.

At the outset, the Chairman and Members of AZAL Supervisory Board thanked President Ilham Aliyev for his confidence in them.

At the meeting, Supervisory Board Chairman Rashad Nabiyev noted that AZAL, a major air carrier in the region and one of the leaders of the aviation community in the CIS, has a special role in the country’s economy.

The Chairman of the Supervisory Board reminded that under the leadership of President Ilham Aliyev, the Azerbaijani economy has entered a new stage of reforms, and at this new stage, one of the main challenges ahead is to increase the financial and economic sustainability of major state-owned companies in the country and to further strengthen control over their revenues and expenditures, while improving the management of state-owned legal entities.

“I am confident that the Supervisory Board will cooperate with the AZAL Board of Directors and as part of best practices and modern management, will work to increase efficiency and improve its management, taking into account modern corporate management standards,” Rashad Nabiyev said.

President of Azerbaijan Airlines Jahangir Asgarov then spoke on topical issues on the activities of AZAL. The meeting also heard a presentation by Zaur Gurbanov, a member of AZAL’s Supervisory Board and Deputy CEO of Azerbaijan Investment Holding, on the principles of AZAL’s corporate management system, functions and powers of the Supervisory Board. Discussions were held on the measures to be taken to ensure the implementation of the tasks issuing from the decrees and orders of the President of Azerbaijan.