Latest news with #QazaqAir
Time of India
13-05-2025
- Business
- Time of India
Eurasia-Asia bonding: Kazakhstan signs strategic partnership with Vietnam; expands ties with UAE
Kazakhstan and Vietnam, key players in their respective regions, have officially upgraded their bilateral relationship to a strategic partnership , to deepen cooperation across a range of sectors. The joint statement establishing the strategic partnership was signed during a state visit by General Secretary of the Communist Party of Vietnam, To Lam, and President of Kazakhstan, Kassym-Jomart Tokayev. The agreement highlights a mutual commitment to closer collaboration in diplomacy, economics, and cultural exchange. In addition to the joint statement, both sides signed several memoranda of cooperation covering key areas such as technology, innovation, digital transformation, culture, and sports. These agreements include cultural and sports cooperation programs for the period 2025–2027 and a twinning initiative between Kazakhstan's Kyzylorda region and Vietnam's Hung Yen province to foster local-level engagement. Economically, the countries finalized a notable transaction involving the sale of shares in Qazaq Air between Kazakhstan's sovereign wealth fund, Samruk-Kazyna, and Vietnam's Sovico Group. In the energy sector, KazMunayGas and Petrovietnam Exploration Production agreed to cooperate on geological exploration projects, opening doors for joint ventures in resource development. Simultaneously, Kazakhstan and UAE also expanded their partnership. President Kassym-Jomart Tokayev welcomed the signing of more than 20 commercial agreements worth $5 billion during the official visit of the Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Kazakhstan on May 12. During the negotiations, President Tokayev emphasized that the United Arab Emirates (UAE) is one of Kazakhstan's main partners, sharing common goals and aspirations. In 2023, both governments signed a Joint Declaration on strategic investment projects, and the inflow of direct investment from the UAE in 2024 more than doubled. Crown Prince Al Nahyan noted that bilateral ties now go beyond trade and investment, covering various areas from energy and transport to digital infrastructure and education. Abu Dhabi Future Energy Company PJSC – Masdar and Samruk Kazyna Sovereign Wealth Fund signed collaboration agreement related to the development of renewable energy and battery energy storage system (BESS) projects in Kazakhstan during the official visit of the Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Kazakhstan on May 12. Kazakhstan aims to generate 15% of electricity from renewable energy sources by 2030 and 50% by 2050. Masdar signed an agreement at COP28 with W Solar, Qazaq Green Power QGP, a Samruk Kazyna Group company, and the Kazakhstan Investment Development Fund to develop and implement the one gigawatt (GW) wind project. The power purchase agreement and the investment agreement for the project were signed at COP29 in Baku last year, with construction expected to begin in 2026.
Independent Singapore
07-05-2025
- Business
- Independent Singapore
Vietjet and Qazaq Air to launch new airline Vietjet Qazaqstan with at least 20 Boeing 737 jets
- Advertisement - HANOI: Vietjet announced it has acquired a strategic equity stake in Kazakhstan's Qazaq Air to launch a new airline brand, Vietjet Qazaqstan, which will operate a fleet of at least 20 Boeing 737 aircraft, the Vietnamese low-cost carrier said in a press release on Tuesday (May 6). The airline said the joint venture was part of its expansion plans, aiming to strengthen ties between Vietnam and Kazakhstan in aviation, economics, and cultural domains while marking a new chapter for the aviation industry in Central Asia. However, Vietjet did not reveal the size of the stake it acquired in Qazaq Air, as reported by Channel News Asia (CNA). The two parties will jointly develop and operate the new airline brand. 'As a new-age low-cost airline, Vietjet Qazaqstan is expected 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. It also aims to support local socio-economic growth through the creation of thousands of high-quality jobs,' it stated. - Advertisement - As part of the deal, Boeing will provide software, spare parts, technical support, and training for pilots and engineers. The agreement also includes aircraft upgrades and modifications to support safe and efficient operations. Last week, the airline celebrated the addition of a new Airbus A321neo ACF aircraft to its fleet of 117 modern aircraft, offering promotional Eco-class fares from S$86 for one-way flights from Singapore to Da Nang, Ha Noi, Ho Chi Minh City, and Phu Quoc , inclusive of taxes and fees. /TISG Read also: Boeing needs to be 'very open' with communications on 777X aircraft delay so the airline can adjust plans accordingly, says Cathay Pacific
Skift
06-05-2025
- Business
- Skift
Vietjet Expands to Central Asia With New Kazakh Joint Venture
Vietjet's new Kazakh venture signals a quiet reshaping of air travel in Central Asia, where low-cost carriers have only started to scratch the surface. Vietnam's fastest-growing airline has announced a major new joint venture in Kazakhstan. The partnership with Qazaq Air will create a new airline brand known as Vietjet Qazaqstan. The deal represents only the second agreement of its kind after the creation of Vietjet Thailand in 2014. The project was announced during a tour of the Central Asian country by To Lam, general secretary of Vietnam's Communist Party. The timing — coinciding with a formal state visit — underscores how aviation can be used as a tool of soft power and economic diplomacy. In a joint statement, the companies confirmed that the new airline will operate a fleet of at least 20 Boeing 737 planes. They said this will enable 'strong expansion of its domestic and international route network,' without disclosing specific cities to be served. What's the Goal? There are currently no scheduled nonstop passenger flights between the two countries. The distance between the capitals of Vietnam and Kazakhstan is approximately 2,000 nautical miles. This is comfortably within the range of the Boeing 737 Max 8 or similar variants. The vision for the new venture is to become, 'a strategic air bridge connecting Kazakhstan with Vietnam, Southeast Asia, and global aviation hubs.' Kazakhstan may not be the most obvious next stop for a Vietnamese airline known for beach routes and Southeast Asia hubs, but that's part of the appeal. The new venture is a soft launchpad into untapped markets in Eurasia, where demand is rising but low-cost options remain relatively sparse. Kazakhstan alone is the world's ninth largest country, with a population of more than 20 million people. Strategic Questions Remain The planned deployment of more than 20 Boeing 737s will mark a major scale-up of Qazaq Air. It is currently a regional carrier operating a small fleet of turboprop aircraft. The new venture will 'build on the existing Qazaq Air platform,' but it remains unclear if Qazaq Air will be absorbed into the new brand or operate alongside it. Vietnam's Ministry of Finance granted a foreign investment registration certificate to Aviation Holdings, a subsidiary of Vietjet. This authorized the acquisition of a strategic equity stake in Qazaq Air. No timeline was given Tuesday for the first flights or required regulatory approvals. Financial terms for the transaction were not publicly available. Vietnam's Golden Visa Ambition to 23-Million Tourist Target More Chinese tourists are now choosing Vietnam over Thailand. Smart visa policies could help keep it that way. The easier it is to get in, the more likely travelers, and their wallets, will follow. Read More An Untapped Asset? While nearly a dozen foreign low-cost airlines now fly to Kazakhstan, the country has just one homegrown budget carrier: FlyArystan. The creation of Vietjet Qazaqstan is likely to bring significant competition to the company, which is a no-frills subsidiary of the national airline, Air Astana. In recent years, Kazakhstan has emerged as a strategic location for international investment. Its proximity to China, Russia, the Middle East, and major emerging markets has piqued the interest of overseas investors. The country is also rich in rare minerals and other natural resources. Last week, Skift reported on data from Group. It highlighted Kazakhstan among countries that are gaining traction with outbound Chinese visitors. The rise of Vietnam's travel sector is likely to be a talking point at next week's Skift Asia Forum. There are just a handful of tickets left for the event in Bangkok on May 14-15. Select an option below to secure your place: Get Your Tickets Skip the FOMO. Join the decision-makers live in Bangkok. 1 Person Solo Ticket $920 Buy Now 2-6 People Group Tickets From $820 Buy Now What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance. Read the full methodology behind the Skift Travel 200.
Nikkei Asia
06-05-2025
- Business
- Nikkei Asia
Vietjet and Kazakhstan's Qazaq Air to launch new airline
HANOI -- Vietnamese budget airline Vietjet Air has signed a strategic partnership with Kazakhstan's Qazaq Air to launch a new airline called Vietjet Qazaqstan, the Southeast Asian firm said in a statement on Tuesday. Vietjet subsidiary Aviation Holdings will acquire a strategic equity stake in Qazaq Air. The two companies will jointly develop and operate the new airline, building on the existing Qazaq Air platform, the statement said, without revealing the value of the deal or the size of each partner's stake.
The Star
06-05-2025
- Business
- The Star
Vietjet forms joint venture with Qazaq Air, will operate Boeing 737 jets
Vietjet CEO, Dinh Viet Phuong (right), and Qazaq Air CEO, Adilbek Umraliyev, exchange the cooperation agreement, witnessed by Vietnam's General Secretary To Lam, Kazakhstan's Deputy Prime Minister Yermek Kosherbayev, and Vietnam's Deputy Prime Minister and Foreign Minister Bui Thanh Son. — Vietjet HANOI: Vietnamese budget airline Vietjet said on Tuesday (May 6) it had bought a strategic stake in Kazakhstan's Qazaq Air to form a joint venture that will operate a fleet of at least 20 Boeing 737 aircraft. Vietjet said the joint venture, Vietjet Qazaqstan, was part of its international expansion plans. It didn't provide details about the size of the stake it was buying in Qazaq Air. "Vietjet Qazaqstan is a new generation low-cost airline, expected to become a strategic aviation bridge between Kazakhstan and Vietnam, South-East Asia and international aviation centres," it said in the statement. The joint venture has signed a deal with Boeing for services including software solutions, spare parts, technical assistance, and training programs for pilots and engineers. - Reuters
