An appeals panel in Almaty has upheld the verdict in the high-profile case of embezzlement and money laundering involving Air Astana. Defense appeals were rejected, reports infohub.kz.
According to the court, the mastermind of the scheme will serve nine years in prison. Two other defendants received 8 years and 6 months each.
"All convicts also face confiscation of property and a five-year ban from holding positions in commercial organizations," the prosecutor's office said.
The court granted the airline's claim for over 1 billion tenge. Property will be confiscated from the convicts to cover the damages.
Earlier, Air Astana reported an increase in the trading volume of its shares on the London Stock Exchange in the first months of 2026 compared to the same period last year. The Kazakh Association of Minority Shareholders (QAMS) suggested the airline's management consider changing its foreign listing venue due to low trading volumes.