Qazaq Air to Rebrand as Vietjet Qazaqstan in New JV Deal

Kazakhstan’s Qazaq Air is set to rebrand as Vietjet Qazaqstan following a strategic joint venture with Vietnam’s VietJetAir. The move comes after Central Asia Aviation Holdings Limited, a consortium backed by Sovico Group JSC and Kazasia Holdings Limited, acquired a 51% stake in the formerly state-owned carrier in late 2024.

Sovico Group, a founding entity and key shareholder of VietJetAir, aims to expand the airline’s regional presence by integrating Qazaq Air into its low-cost model. Vietjet Qazaqstan will operate as a new-generation low-cost carrier, designed to boost connectivity between Kazakhstan, Vietnam, Southeast Asia, and major international hubs.

Nurlan Zhakupov, chairman of Kazakhstan’s sovereign wealth fund Samruk Kazyna, welcomed the move, saying it will improve regional transport links and create new economic growth opportunities. Samruk Kazyna previously owned Qazaq Air entirely. Though the acquisition price remains undisclosed, the government had earlier anticipated earning around KZT2 billion (USD3.9 million) from the deal.

The new airline is expected to operate a fleet of at least twenty Boeing 737s, sourced directly from VietJetAir’s extensive order book, which includes 268 aircraft—among them 50 B737-8s and 100 B737-8-200s.

Vietjet Qazaqstan has also signed a Customer Services General Terms Agreement with Boeing for maintenance, training, and technical support. This includes spare parts supply, pilot and engineer training, and operational upgrades.

The rebranding timeline has not yet been disclosed, but the initiative marks a significant step in establishing Kazakhstan as a regional aviation hub.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com