Uzbekistan Airways prepares for IPO and adopts international accounting standards

President Shavkat Mirziyoyev has instructed the national airline Uzbekistan Airways to take measures to prevent a rise in airfare prices, according to Shukhrat Khudaykulov, the airline’s chairman, following a meeting on privatization.

During the meeting, the president also directed Uzbekistan Airways to transition from National Accounting Standards to International Financial Reporting Standards (IFRS). According to Khudaykulov, this move will help the airline optimize costs, maintain pricing flexibility, and ensure affordable air travel for the public.

Additionally, Uzbekistan Airways has been tasked with preparing for a public stock offering (IPO) on the international market. A special transformation office within the airline is overseeing the IPO preparations. These measures are part of Uzbekistan’s broader privatization program aimed at increasing transparency and investment appeal in the national aviation sector.

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