British defence contractor BAE Systems will sell its remaining stake in Kazakhstan's Air Astana, the Kazakh company said on Thursday, Report informs via Reuters.
BAE owns about 6.9% stake, worth about $31 million based on the placing price of $5.10 per global depositary receipt, in the carrier. In December 2025, it had disposed of a 10.1% stake.
"We recognise that Air Astana was no longer a core holding in the context of their (BAE Systems') wider operations and we look forward to welcoming new shareholders to the group at this exciting point in our development," Air Astana said in a statement.
It did not disclose when the stake will be sold. BAE, focused on fighter jets and submarines, invested under $10 million in 2001 to back Air Astana's launch, at a time when it was pursuing a radar systems deal in Kazakhstan.
On Wednesday, a bookrunner said a subsidiary of BAE would sell 6.1 million global depository receipts in Air Astana as part of a secondary offering.