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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of October 16, 2023 No. PP-337

About additional measures for the effective organization of aviation activities

For the purpose of creating favorable conditions for development of transportations of local population and tourists on internal aviamessages, further improvement of quality of the rendered services in the Republic of Uzbekistan:

1. Agree with offers of the Ministry of transport, the Ministry of Economics and finance and governing bodies of JSC Uzbekistan Airways and JSC Uzbekistan Airports:

about transfer of 100 percent share of JSC Uzbekistan Airports in the authorized capital of SILK AVIA LLC with preserving its brand in the authorized capital of Uzbekistan Helicopters LLC as a part of JSC Uzbekistan Airways;

about voluntary conveyance of three aircrafts of the ATR72-600 model belonging to JSC Uzbekistan Airports, SILK AVIA LLC;

about increase in number of aircrafts of the ATR72-600 model within strategy implementation on the effective organization and development of activities of SILK AVIA LLC;

about assignment on Uzbekistan Helicopters LLC as a part of JSC Uzbekistan Airways of tasks on increase in number of local aviamessages, expansion of geography of flights, adjustment of new routes and development of the park of aircrafts of the ATR72-600 model.

2. Determine that:

the state share in the authorized capital of JSC Uzbekistan Airports decreases by the residual (balance sheet) cost of share in SILK AVIA LLC, and the state share in JSC Uzbekistan Airways and share of JSC Uzbekistan Airways in Uzbekistan Helicopters LLC increase by the specified cost;

the state share in the authorized capital of JSC Uzbekistan Airports decreases by expense amount, the determined working group created from the representatives of JSC Uzbekistan Airways and JSC Uzbekistan Airports connected with three aircrafts of the ATR72-600 model given to SILK AVIA LLC;

transfer of assets from one organization in other organization based on this resolution is not considered as turnover on sales of goods and is equated to economically justified voluntary conveyance of goods;

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