SCAT Airlines (DV, Shymkent) has become the sole shareholder of subsidiary Southern Sky Airlines (IH, Shymkent) after two minority investors exited the regional carrier, local corporate filings show.
Alexander Khalev relinquished his 20% stake in the airline on April 9, 2026, while Alexander Parshin, who held a 10% stake, exited the company a day later. Consequently, SCAT Airlines's stake increased from 70% to 100%.
SCAT declined to comment, citing confidentiality. "If there is information on this matter that requires official disclosure, it will be published in the prescribed manner," the airline told Forbes Kazakhstan business magazine.
Southern Sky launched operations in 2014 as SCAT Airlines' domestic feeder for remote and regions. It operates subsidised flights to Semey, Urzhar, Ust-Kamenogorsk, and Zaisan, among others, using its fleet of An-24s, and also offers charter flights.
The airline recorded KZT2.688 billion tenge (USD5.7 million) in revenue in 2024, with government subsidies contributing more than KZT1.5 billion (USD3.2 million). The airline posted a net loss of KZT107.6 million (USD228,000) and had an accumulated deficit of KZT592.3 million (USD1.3 million) at year-end. It also reported negative equity of KZT382.5 million (USD808,000) and a working capital shortfall. The carrier remained reliant on SCAT for funding, including KZT76 million (USD161,000) in short-term related-party loans.
