Kazakhstan’s Qazaq Air Considers Strategic Investment Amid IPO

Kazakhstan’s Qazaq Air eyes regional jets and narrow bodies

2022-09-15 – 05:58 UTC

Qazaq Air (IQ, Nur-Sultan Nazarbayev) is looking to expand its fleet with the addition of regional jets and narrow-body aircraft, acting chief executive Yerkin Nauryzbayev told Aviation Week.

“We need to grow, we are using the full capacity of our fleet,” he said, pointing to a lack of capacity in the domestic market in particular.

The common carrier currently operates five DHC-8-Q400s, averaging 5.7 years old, the advanced ch-aviation fleets shows the module. It competes in the domestic market with larger jet operators: Air Astana and its LCC division FlyArystan, and the private company SCAT Airlines.

Currently, the only regional jet operator in Kazakhstan is Air Astana with its fleet of five E190-E2s.

Qazaq Air is 100% owned by Kazakh sovereign wealth fund Samruk-Kazyna, which also has a 51% stake in Air Astana, although the two carriers operate independently. However, the Kazakh government, pushed by the National Agency for the Protection and Development of Competition, is evaluating options for the privatization of Qazaq Air in order to promote more effective competition…

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