Azerbaijan reveals details of targeting its civilian aircraft over Russia
The downing of the Azerbaijani civilian aircraft reveals the danger of Russia's indiscriminate use of anti-aircraft weapons in civil aviation areas
December 29, 2024, 11:29 pm

Azerbaijan reveals details of targeting its civilian aircraft over Russia

الطيران

Azerbaijani President Ilham Aliyev presented crucial details regarding the crash of an Azerbaijan Airlines aircraft in Kazakhstan this week, which claimed the lives of 38 people.

In a televised interview broadcast by the official Azertag agency on Sunday, Aliyev disclosed that the ill-fated aircraft was hit by Russian fire, explaining "the civilian aircraft was targeted externally over Russian territory, near Grozny, and its tail was severely damaged due to ground fire."

He revealed that the plane lost control last Wednesday due to military electronic jamming systems, pointing to attempts by Russian parties to obscure the facts of the plane's downing.

Aliyev emphasized that "the final investigation results and details will become clear after examining the black boxes," adding that "the data confirms external damage to the aircraft over Russian territory, and it nearly lost control," continuing: "We also know that electronic warfare systems took our aircraft off course, this was the first targeting, and at the same time, the aircraft's tail sustained severe damage from ground fire."

The Azerbaijani president presented three demands to Moscow regarding the plane crash, calling for an apology and admission of responsibility, according to Interfax agency, in addition to demanding compensation for losses resulting from the disaster.

The Kremlin confirmed a phone call between the Russian and Azerbaijani presidents, during which they continued discussing issues related to the plane crash.

Russian President Vladimir Putin yesterday apologized to his Azerbaijani counterpart for what he described as the "tragic incident" in Russian airspace, where the Azerbaijani aircraft crashed after air defense systems were activated against Ukrainian drones.

Flight J2-8243 crashed Wednesday near the city of Aktau in Kazakhstan after deviating from its course in southern Russia, where there were reports of Ukrainian drone attacks on multiple cities. The flight was heading from Baku to the Chechen capital Grozny.

Initial data from Azerbaijani investigations, according to four informed sources who spoke to Reuters on Thursday, indicate that Russian air defense systems shot down the plane by mistake, while passengers confirmed hearing a massive explosion outside the aircraft.

The civilian Embraer aircraft flew from the Azerbaijani capital Baku toward Grozny in southern Russia, deviated from its destination after sustaining severe damage, and flew an additional 450 kilometers across the Caspian Sea.

Levant-Agencies

Hamas denies Mossad's account.. Disputes over Haniyeh assassination techniques Israeli army storms Al-Baath city in Quneitra

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.