Tashkent, Uzbekistan (UzDaily.com) -- The State Assets Management Agency of the Republic of Uzbekistan will engage a professional consulting company to develop a strategy for the privatization of Uzbekistan Airways JSC.

The Agency announced a competition for the selection of a professional consulting company to develop an airline privatization strategy.

Local and foreign companies can submit their proposals until 17 September 2022.

It should be noted that by his decree, the President of Uzbekistan instructed by 1 September 2022 to begin work on putting up for auction a state share of 51 percent or more in the authorized capital of Uzbekistan Airways JSC, including through public offering (IPO) of shares.

Uzbekistan Airways provides air transportation services for passengers, baggage, cargo of any kind and mail, in accordance with the provisions of international rules and the Aviation Rules of the Republic of Uzbekistan.

The company, as the assignee, is the owner of the exclusive right to the trademark and service mark of the National Airline of the Republic of Uzbekistan "Uzbekistan Airways".

Uzbekistan Airways operates regular flights to more than 50 destinations, including countries in Europe, Asia and North America. Representative offices of the airline operate in more than 20 cities around the world.

At the end of 2021, the enterprises received a net income of 6.3 trillion soums and a net profit of 53.7 billion soums. The authorized capital is 4.2 trillion soums.