Projects
Euro-Asia Air Is Open for Investment Opportunities
In January 2014, the President Nursultan Nazarbayev, in his annual Message to the Nation assign to ensure a second wave of privatization, which shall establish a new class of owners and increase the competitiveness of the national economy. In particular, the Government had been requested to undertake an analysis of all of the companies with State participation, to determine the list of enterprises to be transferred to the private sector, and to adopt a comprehensive program of privatization for the medium term.
In accordance with Government resolution № 280 as of 31.03.2014 on the approval of the privatisation plan for 2014-2016, a list of subsidiaries of NC KazMunayGas JSC was drafted to select the companies, to be transferred to a competitive environment. This list includes a subsidiary company of NC KazMunayGas JSC -Aircompany Euro-Asia Air JSC.
Aircompany Euro-Asia Air JSC is formed in accordance with the Decree of the Government of the Republic of Kazakhstan No. 1084 as of July 9, 1997 year. During 18 years of successful operations, Aircompany Euro-Asia Air JSC works in the helicopter services market of the Republic of Kazakhstan. Aircompany Euro-Asia Air JSC operates at high level of quality and professional skill due to modernization of its machinery.
The development of economy of the Republic of Kazakhstan and implementation of a large number of projects, including those in the oil and gas industry, results in an increased demand for the provision of quality services of helicopter operations and passenger traffic.
Aircompany Euro-Asia Air JSC is the largest helicopter company in Kazakhstan, providing the flights to oil pipelines, gas pipelines, offshore drilling rigs and islands in the Kazakh sector of the Caspian Sea, flights for the electrical line services, sanitary needs, rescue work in case of emergency, etc.
The specific features of Aircompany Euro-Asia Air JSC business are due to the need to centralize the core functions of planning and management at the head office, located in Astana city. The branches and representative offices of Aircompany Euro-Asia Air JSC ensure the communications with the clients and partners on the issues of aviation services. Geography of the branches and representations is determined by the location of the largest consumers of airline services, availability of infrastructure (airports, bases, runways, parking areas and power sources). In light of these factors, the following deployment of the structural units of the branch offices was chosen: the branch offices are located in Aktau, Aktobe, Atyrau, Zhezkazgan, Kyzylorda and representative offices in the cities of Uralsk and Pavlodar.
Aircompany Euro-Asia Air JSC operates a fleet of helicopters and passenger aircrafts with modern on-board equipment in accordance with the international requirements: 12 MI-8T helicopters; 2 AS 365N3 helicopters ; 4 AgustaWestland 139 helicopters; 2 Challenger 850 aircraft (1) and Challenger 870 (1). Aircompany Euro-Asia Air JSC also operates the aviation and technical bases, hangars, training center with MI-8T helicopter simulator, health care division for the medical pre-flight expertise for the specialists.
The Company has a sustainable financial and economic situation. In 2014 the annual revenue amounted to 10 billion 983 million 352 thous. KZT. Total profit was337 million 983 thous. KZT. Shareholders' equity as of December 31, 2014 reached 15 billion dollars 214 million 283 thousand KZT.
The Company is developing steadily and has a large portfolio of orders, allowing to confidently face the future. For example, last year a seven-year contract was signed to carry the passengers, cargo and baggage to the offshore rigs in the Kazakhstan’s sector of the Caspian Sea.
Flight safety is the top priority of Euro-Asia Air. The Company undertakes to implement, develop and improve the management systems and practices to ensure a high level of flight safety and compliance with national and international standards.
Aircompany Euro-Asia Air JSC always monitors the latest aviation technologies and continues to implement new projects for upgrading its fleet.
Aircompany Euro-Asia Air JSC activities are committed to openness and transparency, and aimed at achieving a new level of customer service and maintain the position as a modern, competitive aircraft operator. At the same time with the fleet increase, Aircompany Euro-Asia Air JSC is constantly working to improve the quality of services provided. Euro-Asia Air meets the requirements of ST RK ISO 9001-2001 “Quality Management System” and is currently prepares for the certification audit according to ISO 14001 “Integrated environmental management” and “18001 Management of Occupational Health and Safety".
According to the estimates as of April 30, 2014, the value of Euro-Asia Air was 19 billion 741 million 770 thousand KZT. Aircompany Euro-Asia Air JSC will be sold through the sale of 100% of shares without division. In December 2014, NC KazMunayGas JSC announced the sale of 100% of shares of Aircompany Euro-Asia Air JSC through an open two-stage competition. In January 2015, a deadline for participation in the tender for purchasing the shares of the Company was terminated, but the tender was annulled due to lack of applications. The repetitive tender will be announced and held after second repetitive evaluation of the Company in 2015.
Both residents of Kazakhstan and foreign investors are invited to participate in the tender. Aircompany Euro-Asia Air JSC believes that the stable company with attractive assets, a portfolio of orders for several years in advance and highly qualified personnel will certainly find an investor, willing to develop in a competitive environment.
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