Uzbekistan’s State Asset Management Agency (SAMA) has announced a tender to select “a professional consulting company to develop a privatisation strategy” for Uzbekistan Airways (HY, Tashkent International), according to a notification on the agency’s website.
In April, Uzbek President Shavkat Mirziyoyev signed a decree according to which the process of selling a 51% stake or more in the national airline, by means that could include a public offering, must begin by September 1.
All Uzbek and non-Uzbek consulting firms interested in the newly announced tender are invited to submit their proposals by 1800L (1300Z) on September 17, the notification dated August 19 said.
The scope of the consultant’s services will be divided into two stages, including a detailed report to be prepared with analysis of the country’s civil aviation sector, the region, and the world as part of the first stage, and recommendations to be developed for the sale of the company and its assets in the second stage.
The aims of the privatisation process are to develop competition in the aviation sector and reduce state participation, boost the efficiency of the use of all production factors including equipment and human and financial resources, and increase private investment for the development of the sector, the announcement said.
In addition to its main activities, Uzbekistan Airways includes the subsidiaries Uzbekistan Airways Technics (maintenance), Uzbekistan Helicopters (special aviation), O'Quv-Mashq Markazi (educational activities), and Ketring (on-board catering). According to the notice, these enterprises saw revenue of UZS6.3 trillion soums (USD579 million) during 2021 and a net profit of UZS53.7 billion (USD4.9 million), with an authorised capital of UZS4.2 trillion (USD386 million).
In related news, Uzbekistan Airways has relaunched a tender to find a broker to oversee the sale of several lots of aircraft including five Boeing jets, eleven Ilyushin Design Bureau passenger and cargo aircraft, and two Mil Helicopters. The deadline for would-be brokers to respond, in Russian, English, or Uzbek, is 1800L (1300Z) on August 29. The aircraft are the same as was detailed last month, only now they are organised into six lots instead of two.
