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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Kazakhstan to launch new domestic airline

Posted on 03 March 2014

Kazakhstan is to launch a new domestic airline, the oil-rich country’s sovereign wealth fund has announced. The airline, to be called Ar Kazakhstan, will likely be based on a fleet of regional Bombardier planes and aims to rival the existing carrier Air Astana.
President Nursultan Nazarbayev said during a meeting with Bombardier CEO Pierre Beaudoin on Wednesday that Kazakhstan was pursuing a contract with the Canadian company to supply planes for the service. Umirzak Shukeyev, the head of the Samruk-Kazyna fund, said the new regional airline was being created to improve flight safety. It would both cooperate and compete with Air Astana………………………………………..Full Article: Source


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