An Embraer 190 aircraft operated by Azerbaijan Airlines, flight J2-8243 from Baku to Grozny, crashed near the Kazakh city of Aktau on Wednesday, according to Azerbaijan's Report News Agency.
The crash occurred near the Aktau Airport, with the plane reportedly catching fire upon impact. Kazakhstan's Ministry of Emergency Situations dispatched 52 personnel and 11 units of equipment to the site, media reports said.
The aircraft had 62 passengers and five crew members on board. According to Kazakh authorities, at least 28 people have survived in the crash.
Azerbaijan Airlines confirmed the incident and assured that more information would be provided. Local authorities and emergency services are investigating the crash.
"The circumstances of the incident are being clarified and special investigation will be conducted, according to the Ministry of Transport," said China Global Television Network's reporter Aigerim Kali in Kazakhstan.
"The plane flying from Baku to Grozny requested an emergency landing in Aktau appeared at 11:20 local time. According to the press service of the Grozny airport, the reason for the change of the route was the thick fog. The plane was first redirected to Makhachkala, the capital city of Dagestan, and then to Aktau," she added.
A preliminary investigation found the plane collided with birds and was diverted to Aktau due to an emergency on board, according to a statement issued on Telegram by Russia's aviation authority, Rosaviatsia.
Passenger plane from Baku crashes near Aktau, Kazakhstan
Passenger plane from Baku crashes near Aktau, Kazakhstan
Mergers, acquisitions, and reorganizations in China's A-share market have picked up markedly since the start of the year, with deals disclosed in the first quarter up over 80 percent year on year, led by strong momentum in hard-tech sectors.
Data from Wind Information, a China financial data provider, showed that by Tuesday, listed companies had announced 829 merger, acquisition, and reorganization deals, with 224 on the ChiNext board and 94 on the STAR Market. By sector, "hard technology" sectors, represented by semi-conductor and smart manufacturing, have emerged as the most active areas.
"Hard-tech sectors typically feature rapid technological iteration, heavy research and development investment and long industrial chains, with significant economies of scale. Given these features, industrial mergers, acquisitions, and reorganizations have been a key tool for hard-tech companies to strengthen supply chain resilience and competitiveness. In addition, China's related policies, dubbed 'Six Measures for Mergers and Acquisitions,' explicitly support listed companies in carrying out mergers, acquisitions, and reorganizations around strategic emerging industries and future industries, while moderately increasing regulatory tolerance for unprofitable assets. This has created more favorable institutional conditions and a better market environment for listed companies in the hard-tech sectors to accelerate industrial upgrading and strengthen independent innovation," said Chen Jie, head of Mergers and Acquisitions Group at the investment banking division of China International Capital Corporation.
Chen also noted that the surge in mergers, acquisitions, and reorganizations has been reshaping valuation dynamics in the A-share market. As integration and synergies take time to materialize, investors are increasingly shifting their focus from short-term sentiment to long-term value based on business logic. At the same time, sustained mergers and acquisitions activity is expected to support the revaluation of leading companies.
"Through consolidation and expansion, leading A-share firms are likely to see their core competitiveness and long-term growth prospects become more evident. This will help the market better recognize their intrinsic value, offering higher valuation, and contribute to a more rational and mature valuation system overall," said Chen.
China's A-share sees mergers, acquisitions, reorganizations pick up,led by hard-tech sectors
