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No plans to privatize Kazakh Air Astana

No plans to privatize Kazakh Air Astana

Date: 10 December 2015 18:07

Baku, Azerbaijan, Dec.10

By Elena Kosolapova – Trend:

Kazakhstan’s national carrier Air Astana will not be put up for privatization, Kazakh Investment and Development Ministry said Dec.10.

No negotiations are being held on selling the air carrier, said the ministry.

Air Astana is the only Kazakh airline, having access to flights to Europe. In accordance with the intergovernmental agreement on air communication, if Kazakhstan does not have the right for substantial ownership and effective control of the airline, it will restrict the right of Air Astana for carrying out international flights.

Air Astana is a large profitable company, which does not need state’s financial support, according to the ministry.

Earlier, Kazakh President Nursultan Nazarbayev instructed the government to develop a privatization program and include all the organizations owned by the state, as well as the Samruk-Kazyna, Baiterek and KazAgro holdings in this program.

Air Astana has been carrying out flights since 2002 and today, it has a fleet of 30 western production aircraft with industrial average age of 5.7 years. Its route network includes more than 60 international and regional destinations.

Kazakhstan's National Welfare Fund Samruk-Kazyna (51 percent) and the British company BAE Systems are the shareholders of the airlines.

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