Air Astana will be listed in London
Announcement by the Kazakh President
Kazakhstan's national carrier, Air Astana, will soon be listed on the London Stock Exchange. The 51% of the company's capital is held by a sovereign fund owned by the Central Asian government, while the remaining 49% stake is in the hands of the British Bae Systems, a company specialized in the aerospace and defense sector. This is a decision that will bring multimillion-dollar profits to the English company.
Bae Systems' investment in Air Astana dates back to 2002: the British company had bet 8.5 million dollars to co-finance the launch of the airline, with the intention of obtaining in exchange the purchase of radar systems by the Kazakhstan. The agreement failed due to pressure from Russia. The English company had found itself in the hands of a stake in a company in the civil aviation sector, in which Bae had ceased to be interested at the beginning of the century.
Kazakh President Qasym-Jomart Toqaev recently announced that Air Astana will conduct an international initial public offering next year. So now the British company Bae has found itself with an unexpected treasure in its hands, as its share is now valued at 63 million euros but, considering that in 2024 the Eurasian airline recorded positive economic performances, the value is destined to increase.
AVIONEWS - World Aeronautical Press Agency