BAE Systems halves stake in Kazakh carrier Air Astana
A BAE Systems logo is displayed above a stand on the first day of the Indo Pacific International Maritime Exposition in Sydney, Australia, November 4, 2025. REUTERS/Hollie Adams
Dec 16 : Britain's BAE Systems said on Tuesday it will cut its stake in Kazakh carrier Air Astana by nearly half.
The aircraft maker, which currently holds about 16.95 per cent stake in Air Astana, is selling global depository receipts representing about 8 per cent of the company's outstanding common shares.
BAE, whose main business is making fighter jets and submarines, invested less than $10 million in 2001 to help fund Air Astana's launch at a time when it was bidding to sell a radar system to Kazakhstan.
The company reduced its stake in Air Astana from 49 per cent last year after it floated its dual IPO in London and Kazakhstan.
Following the latest sale, BAE Systems is expected to maintain its position as the second-largest shareholder in Air Astana, according to LSEG data.
