• 15/04/2024 05:33

The EBRD became a shareholder of the largest airline in Kazakhstan

The European Bank for Reconstruction and Development (EBRD) has become a minority shareholder of Air Astana, the national air carrier of Kazakhstan. This is reported on the bank's website.

The EBRD has become a shareholder the largest airline in Kazakhstan

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What is known

The acquisition occurred as part of the airline's initial public offering (IPO). The bank became the owner of a 5% stake for $42 million.

The Kazakh airline held an IPO to raise money to expand and renew the fleet, build aircraft maintenance facilities and purchase a flight simulator.

Air Astana plans to expand by 2029 its fleet from 49 aircraft to 80.

The main shareholders of the group are the Kazakh state sovereign wealth fund Samruk-Kazina and BAE Systems (Kazakhstan) Limited, a subsidiary of the British corporation BAE Systems plc.

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