ASTANA, Kazakhstan, January 2. Kazakhstan's Samruk-Kazyna announces the signing of a share purchase agreement for QAZAQ AIR with a consortium of investors, Trend reports.
As part of putting QAZAQ AIR in a more competitive market, Samruk-Kazyna, the consortium "Central Asia Aviation Holdings Limited" (which is part of the Vietnamese Sovico Group), and the company Kazasia Holdings Limited have signed a set of legally binding documents. This includes an agreement to buy shares.
Under the terms of the agreement, the investors will contribute to the strategic transformation and development of QAZAQ AIR, focusing on improving operational efficiency and long-term sustainability. Measures include plans to increase QAZAQ AIR’s fleet by 20 Boeing 737 Max 8 or Airbus A321 aircraft over the next few years.
The deal is expected to significantly increase the value of QAZAQ AIR’s assets and strengthen its position as the leading airline in Central Asia. The transaction will be considered closed, and the shares will be transferred to the investors' ownership after all preliminary conditions agreed upon by the parties are fulfilled.
To note, Kazasia Holdings Limited is a Kazakhstani company put forward by Sovico Group to implement the partnership and joint management of QAZAQ AIR together with Samruk-Kazyna.
