BAE Systems to exit Kazakhstan's Air Astana
March 19 : British defence contractor BAE Systems will sell its remaining stake in Kazakhstan's Air Astana, the Kazakh company said on Thursday.
BAE owns about 6.9 per cent stake, worth about $31 million based on the placing price of $5.10 per global depositary receipt, in the carrier. In December 2025, it had disposed of a 10.1 per cent stake.
"We recognise that Air Astana was no longer a core holding in the context of their (BAE Systems') wider operations and we look forward to welcoming new shareholders to the group at this exciting point in our development," Air Astana said in a statement. It did not disclose when the stake will be sold.
BAE, focused on fighter jets and submarines, invested under $10 million in 2001 to back Air Astana’s launch, at a time when it was pursuing a radar systems deal in Kazakhstan.
On Wednesday, a bookrunner said a subsidiary of BAE would sell 6.1 million global depository receipts in Air Astana as part of a secondary offering.
