Baku Shipyard secures $5M interest-free loan from AZAL

Baku Shipyard LLC has received a $5 million interest-free loan from Azerbaijan Airlines (AZAL) CJSC, Report informs.

The agreement between the two parties was signed on December 8. Under the contract, the loan was disbursed on December 15 and must be fully repaid by January 31, 2028.

Both companies operate under the supervision of Azerbaijan Transport and Communication Holding (AZCON), and the loan was issued within the framework of their related-party relationship.