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SECTION NEWS

China interested in establishing joint venture with Air Kyrgyzstan airline

05/01/17 09:35, Bishkek – 24.kg news agency, by Darya PODOLSKAYA

In order to promote and develop the only state-owned airline - Air Kyrgyzstan JSC, Parliament of Kyrgyzstan intends to include it in the list of state assets to be privatized.

Foreign companies are interested in acquiring a controlling stake, i.e., more than 51 percent of the shares. Such an example is Air Astana airline, where the investor has acquired 49 percent stake, and the state has transferred to him in trust further two percent of the shares.

Representatives of the State Agency for Attraction of Investments under the Ministry of Economy of the Kyrgyz Republic and the members of the Board of Air Kyrgyzstan felt the need to create a joint venture with China Southern Airlines. This will enhance the capabilities of both parties. The Chinese intend to update the fleet and expand company's route network after its creation. 

The head of the Ministry of Transport and Roads of Kyrgyzstan Zhamshitbek Kalilov noted that the issue should be carefully considered taking into account the requirements of the legislation, and urged his colleagues to submit proposals for a final decision on the establishment of a joint venture.

State China Southern Airlines (South China Airlines) is among the five largest airlines in China. It has more than 600 Boeing and Airbus planes. They daily operate more than 2,500 flights in 260 directions.

Chinese investors say that in the case of a positive decision on the establishment of the joint venture, Air Kyrgyzstan within five years will get up to six aircrafts for international and inland flights and an aircraft for the transport of the first persons of the Kyrgyz Republic. 


URL: http://eng.24.kg/economics/170794-news24.html
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Exchange rate from 4 February
National Bank of Kyrgyz Republic
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«When we ran in the elections, we said that would even get the moon and the sun from the sky ».
MP Kamchybek Joldoshbayev at a meeting of Parliament, February 2, 2017.

«What have you done besides sale of donkeys to China?».
Deputy Ryskeldi Mombekov to the head of State Inspectorate for Veterinary and Phytosanitary Safety Kalysbek Zhumakanov at a meeting of Parliament, February 1, 2017.
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