March 19 (Reuters) - Kazakhstan's Air Astana said on Thursday Britain's biggest defence contractor BAE Systems will sell its remaining stake in the company. A day earlier, a bookrunner said a
BAE Systems to exit Kazakhstan's Air Astana
BAE Systems' Stake Sale and Background
Announcement of Stake Sale
March 19 (Reuters) - British defence contractor BAE Systems will sell its remaining stake in Kazakhstan's Air Astana, the Kazakh company said on Thursday.
Details of BAE's Holdings
Current and Previous Stakes
BAE owns about 6.9% 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% stake.
Air Astana's Statement
"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.
Background of BAE's Investment
Initial Investment and Strategic Context
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.
Secondary Offering Details
Bookrunner's Announcement
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.
Reporting Credits
(Reporting by Rishab Shaju in Bengaluru; Editing by Mrigank Dhaniwala and Harikrishnan Nair)
