Kyrgyzstan offers for sale 49% stake in flag carrier

By bne IntelliNews June 9, 2016

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

Kyrgyz court officials raid election runner-up Babanov’s TV station

Kyrgyz court officials on December 19 raided the independent NTS television station, owned by opposition politician Omurbek Babanov, the runner-up in October’s Kyrgyz ... more

Kyrgyzstan to withdraw WTO complaint as Kazakhstan lifts border restrictions

Kyrgyzstan is to withdraw its complaint filed with the World Trade Organization (WTO) over Kazakhstan’s moves to tighten controls on the Kazakh-Kyrgyz border introduced in ... more

New Kyrgyz president sworn in as Central Asia sees its first peaceful democratic transfer of power

Kyrgyzstan on November 24  inaugurated Sooranbai Jeenbekov as its new president. Jeenbekov replaced Almazbek Atambayev, who was constitutionally barred from ... more

Dismiss