The Kyrgyz government will offer for sale a 49% stake in flag carrier Air Kyrgyzstan in a tender to be held on September 6. The stake is valued at KGS188.9mn (€2.42mn), the country’s State Property Management Fund said in a statement on June 8.
The sale is part of the government's privatisation programme for 2015-2017, which also envisages selling shares in the National Energy Holding Company. Under the terms of the tender, the buyer will be obliged to renew and expand Air Kyrgyzstan's fleet buying at least five aircraft within five years. The aircraft, not to be older than 20 years, must comply with the requirements of the International Civil Aviation Organisation (ICAO) and the aviation regulations of the country.
The winner of the tender will also be required to invest at least $1mn into the development of the company and settle Air Kyrgyzstan’s debts of KGS165mn. These obligations will need to be carried out within 12 months of acquiring the shares.
Related Articles
Unusually intense heatwave hit Central Asia in March, may impact crop yields
Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more
Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000
Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more
Central Asian unified electricity trade platform will boost renewables, says Uzbek energy official
Central Asia is working to achieve a unified electricity trade platform to improve regional trade and meet the growing demand for renewable energy, according to Uzbekistan’s Deputy Minister for ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
17 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago