“Compared to the first half of 2011 we have had a significant fall in volumes, especially in June and July,” he explained. “Cargo flows fell both easbound and westbound, although charter flying has become more financially attractive.”

Of course, the global industry downturn has effected Silk Way West’s business, he noted, but Gazimov is forecasting a recovery starting from September of October.

Silk Way West will be well prepared for that recovery, if and when it comes, he believes, with a fleet of five freighters – three B747-400Fs and two B767-300Fs.

As for the airline’s various areas of interest: “There is increasing competition in the CIS cargo market, despite the strict aviation authorities’ requirements  alongside the liberalisation of commercial rights,” Gazimov pointed out.

While for the valuable Western European market: “We hope that the EU zone will soon recover economically and we will see a return to the huge demand of 2010,” he added.