Deal on Qazaq Air sale to Vietnam's SOVICO to close in Sept - Ministry

The deal on the sale of Kazakhstan’s Qazaq Air airline to the Vietnamese SOVICO Group will be closed in September 2024, Kazinform News Agency quotes Vice Minister of Transport Talgat Lastayev as saying at a briefing today.

“The negotiations between Samruk-Kazyna Sovereign Wealth Fund and SOVICO Group are ongoing as scheduled. The deal will be closed in September,” the Vice Minister said.

Earlier, at a press conference held after the Cabinet’s July 9 meeting, Minister of Transport Marat Karabayev said the contract value is estimated at around 2 billion tenge.

The acquiring company is obliged to register at least 20 aircraft both for domestic and international operations. In turn, the investor promised to attract not 20, but 50 aircraft.

President Kassym-Jomart Tokayev welcomed the privatization of Qazaq Air airline by Vietnam's SOVICO Group.