British defence company to exit Air Astana shareholding

British defence holding BAE Systems is fully exiting its stake in Air Astana, the airline said in a notification to the London Stock Exchange, where its depositary receipts are traded.

BAE Systems plans to sell its entire 6.86% stake, Caliber.Az reports via foreign media.

The price per receipt is expected to be around $5.1, implying a discount of roughly 15% to the current market value. Each receipt represents ownership of four shares.

The buyer has not been disclosed, though institutional investors are expected to acquire the shares. Air Astana said the move reflects a shift in BAE Systems’ strategic priorities. The British group had been a “key partner” since 2001, but no longer considers the airline a core asset. The company also noted that the free float of shares and receipts will increase after the deal closes.

Until 2024, BAE Systems held a 49% stake in Air Astana, making it the second-largest shareholder. Following the airline’s IPO, its stake declined, including a reduction from 16.95% to 6.86% in December 2025. Currently, 41% of shares are owned by Samruk-Kazyna, while 37.53% are traded as depositary receipts on the London Stock Exchange.

By Jeyhun Aghazada