Samruk-Kazyna Fund has announced the sale of 100% shares of Qazaq Air to a group of investors, including Vietjet. After several delays, the deal was concluded in December 2024 with a starting price of 10.2 billion KZT (approximately 20 million USD). Vietjet Qazaqstan, the predecessor of Qazaq Air, plans to use at least 20 Boeing 737s and develop into a low-cost airline, connecting Kazakhstan with Vietnam and Southeast Asia. The airline transported 588,407 passengers in 2023 with an 84% load factor and anticipates a net profit of about 4.9 million USD in 2024. Vietjet has previously succeeded in the Thai market and hopes for similar outcomes in Kazakhstan.
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