Qazaq Air privatisation restarts after previous sale attempt ruled invalid

Kazakhstan’s sovereign wealth fund Samruk-Kazyna is attempting again to sell a shareholding in regional operator Qazaq Air, after a previous competition was declared invalid. Samruk-Kazyna had unveiled a privatisation scheme last August to sell between 49% and 100% of the airline through a two-stage competition. But in mid-November, it states, this programme was ruled invalid. “In accordance with the regulatory acts of Samruk-Kazyna a new competition is being held,” it adds. The first stage involves submission and consideration of participants’ tender applications, including preliminary proposals and confirmation of compliance, and a fee of 173.4m tenge ($381,000). Samruk-Kazyna says the deadline for first-stage participants to apply is 29 January. Successful applicants will be invited to submit formal proposals for evaluation, on the basis of which a selection will be made. Qazaq Air was established by the Kazakh government in 2015 and it operates a fleet of De Havilland Dash 8-400 turboprops.<br/>