Air Astana to part ways with its major foreign shareholder

:: Air Astana

Air Astana Group has announced that its key foreign shareholder, the British defense conglomerate BAE Systems, plans to sell its remaining 6.9% stake in the company. In 2001, the British holding acted as a co-founder of Kazakhstan’s largest carrier alongside the government of the Central Asian nation, originally holding a 49% stake.

However, during Air Astana’s IPO in 2024, BAE Systems reduced its shareholding to 16.95%. According to the British group, this transaction generated £166 million ($220 million) in proceeds and a profit of £75 million. In December 2025, BAE Systems sold a further 10.1% of its shares, earning £38 million, with a recorded profit of £12 million from the sale.

According to Air Astana, the divestment of BAE Systems’ final tranche will increase the company’s free float. The British defense giant has not yet announced a specific date for the share sale. Following this transaction, Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, will remain the largest shareholder with a 41% stake.

CentralAsia+ Aero earlier reported: Kazakhstan’s Air Astana brings in restructuring expert Gonçalo Pires as new CFO.

CentralAsia+ Aero earlier reported: BAE Systems sells larger stake in Air Astana than planned.

CentralAsia+ Aero earlier reported: British shareholder to sell half of its remaining shares in Air Astana.