VietJetAir acquires Qazaq Air
A consortium called Central Asia Aviation Holdings Limited bought a 51% stake in the formerly majority state-owned Qazaq Air from the Kazakh sovereign wealth fund Samruk Kazyna in late 2024. Qazaq Air was previously wholly owned by Samruk Kazyna on behalf of the Kazakhstan government.
Central Asia Aviation Holdings is a subsidiary of the Vietnamese Sovico Group JSC and Kazasia Holdings Limited conglomerate. Sovico founded VietJetAir and remains a major shareholder in the airline.
The new VietJetAir Qazaqstan low-cost carrier is intended to “become a strategic air bridge connecting Kazakhstan with Vietnam, Southeast Asia, and global aviation hubs. The airline will meet the growing travel demand in Kazakhstan while boosting cross-border tourism, trade, and logistics throughout Asia.” No date has been given as to when the rebranding and launch of VietJetAir Qazaqstan will take place.
Nurlan Zhakupov, the chairman of the Kazakh sovereign wealth fund Samruk Kazyna said that: “We highly appreciate the intention of Sovico Group and VietJetAir to join the management and operational activity of Qazag Air under the new brand VietJet Kazakhstan. The expansion of the route network in the region will enhance transport connectivity and create new economic growth points.”
VietJetAir was founded in 2007 and began flying in 2011. It currently operates a fleet of seven A330-300s 36 A321s, 36 A321neos, and 17 Airbus A320s. The group also includes a Thai subsidiary, ThaiVietJetAir, which operates 12 A320s and six A321s.
Qazaq Air was founded in 2015 and launched operations in 2021. It was fully owned by the Kazakh government and is currently operating a fleet of five DHC-8-400s. The new VietJetAir Qazaqstan will have a fleet of at least twenty Boeing 737MAXs. These will be allocated from VietJetAir’s existing order book which includes some 50 B737-8s and 100 B737-8-200s.
