Qazaqstan Investment Corporation JSC has sold its stake in Almaty Airport. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
The company, part of the Baiterek national holding, announced today that it has withdrawn from the Almaty International Airport project. Turkish management holding TAV Airports purchased the remaining 15 percent stake. The transaction amount was $133 million.
Qazaqstan Investment Corporation participated in the project through the Kazakhstan Infrastructure Fund. In 2021, when TAV Airports took over the airport's management, the direct investment fund injected $30 million and became a shareholder. At that time, the total deal value was $415 million.
Since then, Almaty International Airport has undergone a major transformation. The investment program was completed in 2024. As a result, a new international passenger terminal covering 53,500 square meters was commissioned, a VIP terminal and engineering building were constructed, and a modern cargo handling system was launched.
Over five years, passenger traffic at the airport doubled from 5.6 million to 11.93 million people. In the first six months of this year, 5.76 million passengers were served. Total revenue reached $257.9 million.