Kazakhstan’s regional airline, Qazaq Air, is transitioning to new ownership under a consortium led by the state wealth fund Samruk-Kazyna, including Vietnam’s Sovico Group and Kazasia Holdings. This agreement, part of Kazakhstan’s 2021–2025 privatization program, has been approved by the government, marking a significant transformation in the country’s aviation sector.
Goals of Privatization
The privatization of Qazaq Air aims to elevate Kazakhstan’s civil aviation to international competitiveness. The initiative is expected to support the following objectives:
- Increasing Competition: Encouraging innovative solutions with new investors.
- Expanding International Flights: Strengthening global connectivity and opening new routes.
- Creating Employment Opportunities: Generating jobs in aviation and related sectors.
- Boosting Related Industries: Accelerating economic growth in logistics, trade, and tourism.
Qazaq Air: A Regional Airline
Qazaq Air plays a critical role in enhancing regional connectivity by providing air services to remote areas of Kazakhstan. Its fleet consists of five De Havilland Canada Dash 8-400 aircraft, optimized for short- and medium-haul flights.
The acquisition agreement between Samruk-Kazyna and the consortium was signed in the final days of the year. It will be finalized once all agreed terms between the parties have been fulfilled.
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