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Astana, Kazakhstan • 23 May, 2024 | 17:52
1 min read

Samruk-Kazyna Confirms Sale of Qazaq Air to Vietnam's Sovico Group

The transaction is expected to close soon

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Qazaq Air

Samruk-Kazyna National Welfare Fund has announced a deal to sell 100% of Qazaq Air's shares to Vietnam's Aviation Holdings Company. The closing of the transaction is expected to take place in the near future, QazMonitor reports citing the Fund’s press service.

What’s known so far: Based on the available data on the deal, the foreign investor has committed to expanding Qazaq Air's fleet by 20 aircraft within five years from the transaction's closing date. This expansion will include purchasing Boeing 737 Max 8 and Airbus A320 and 321 models. The Kazakh side anticipates that the deal will help to attract foreign direct investment into the country.

  • Aviation Holdings Company is a subsidiary of Sovico Group, one of Vietnam's largest diversified conglomerates, focusing on aviation, energy, construction, and finance.

  • Qazaq Air, a portfolio company of Samruk-Kazyna, operates out of Astana International Airport. The airline was established to enhance the safety and accessibility of interregional air services in Kazakhstan and the border areas of neighboring countries.

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