Humo Air sold to a private investment company from Switzerland

Humo Air is sold to a new private owner, the State Assets Management Agency said.

The Swiss investment company ValleyRoad Capital S.A. became the buyer of a 100% state stake in the company. The deal amounted to 27.2 billion soums (about $2.42 million at the current exchange rate of the Central Bank).

In addition, ValleyRoad Capital assumes a number of obligations: by 2026, the company should purchase 18 aircraft for the airline, three of which must arrive no later than the end of June 2023.

The investor also undertakes the obligation to provide optimal prices for flights, including to destinations not served by other carriers.

At the first stage of the transformation, it is planned to launch 16 flights per week. In total, 60 regular flights should be established in the next five years.

Humo Air will be managed by qualified specialists with experience in the field of aviation, both local and foreign. At least 80% of employees must be residents of Uzbekistan.