Air Astana Open to New Investors as BAE Systems Exits Airline It Cofounded

By Joshua Kirby

Air Astana said it would welcome new shareholders after cofounder BAE Systems sold off its remaining stake in the Kazakh airline.

BAE Systems agreed to sell around 6.1 million of Air Astana's global depositary receipts, representing a little under 6.9% of the airline's share capital, according to a filing to the London Stock Exchange dated Wednesday. At a price of $5.10 a GDR, the stake is valued at around $31.1 million.

The sale marks the British aerospace-and-defense group's exit from its holding in Air Astana following previous selloffs. BAE Systems, which cofounded Air Astana alongside the Kazakh state at the start of the century, held 49% of Air Astana's shares when it listed in 2024.

Air Astana's largest shareholder remains Kazakh sovereign wealth fund Samruk-Kazyna.

"BAE Systems has been a key partner of Air Astana since our inception," the airline said in a release Thursday. The company noted that it was no longer a core holding for BAE Systems in the context of its wider operations.

"We look forward to welcoming new shareholders to the group at this exciting point in our development," Air Astana said, adding that its free float had increased as a result of BAE's stake disposal.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

March 19, 2026 03:53 ET (07:53 GMT)