Board member of NC KazMunayGas JSC, representing the interests of Samruk-Kazyna JSC Yelzhas Otynshiyev, stated that the Vietnamese airline Sovico Group will repay the debts of Qazaq Air by 2044.
According to Bes.media, Otynshiyev said that in December the state commission for economic modernisation approved the key terms of the deal to sell the stake in Qazaq Air.
Under the terms, the Vietnamese investor undertakes to repay a loan of 38.4 billion tenge by the end of 2044, as well as to acquire 20 Boeing or Airbus aircraft within five years, with the possibility of extending the deadline by two years.
It is reported that Sovico has already confirmed its readiness to fulfil these conditions.
"Overall, we believe that these requirements will have a positive impact on the development of Kazakhstan's civil aviation and will benefit related industries such as logistics, tourism, and trade, also thanks to the launch of additional flights, including international ones," said Yelzhas Otynshiyev.
A final decision on the deal by the board of directors of Samruk-Kazyna and the government is expected to be made before the end of the year.
Earlier, it became known that the Vietnamese airline Sovico Group is to be offered trusteeship of the airports of Turkistan and Kyzylorda. Deputy Minister of Transport Maksat Kaliakparov noted that this will happen after Sovico completes the deal to purchase Qazaq Air with NWF Samruk-Kazyna JSC.