Foreign investment in air transportation shall not exceed 49%
"SECTION I. GENERAL [...]
Chapter 2. Terms and definitions [...]
28) carrier (aircraft operator) - a legal entity registered in the territory of the Kyrgyz Republic engaged in the operation of aircraft and having a valid certificate of aircraft operator; 
[...]
SECTION VIII. COMMERCIAL AIR TRANSPORT. RESPONSIBILITY IN THE FIELD OF AIR TRANSPORTATION
Chapter 20. Commercial air transport and other aviation activities
Section 138. Aircraft Operator Certification
1. Aircraft operator's certificate is issued to a legal entity registered in the Kyrgyz Republic that owns or leases (without crew) one flight suitable for flights, and also has the organizational structure, trained personnel, equipment, buildings, and facilities necessary for flight and technical operation of the aircraft and flight operations.
2. Aircraft operator certificate is issued for a period not exceeding 24 months.
3. The creation on the territory of the Kyrgyz Republic of airlines with the participation of foreign individuals and legal entities is allowed provided that the share of participation of foreign individuals or legal entities in the airline does not exceed 49 percent of the charter capital of the airline.
4. The operation by an individual or legal entity of a light and ultralight aircraft of general aviation does not entail the obligation to obtain the certificate of aircraft operator by these persons.
5. The procedure for issuing, amending, suspending or revoking an aircraft operator certificate is established by the Aviation Rules of the Kyrgyz Republic. [...]" ("Air Code of the Kyrgyz Republic" dated August 6, 2015 No. 218 [google translated])
Air Code of the Kyrgyz Republic dated August 6, 2015 No. 218 [google translated]
[<a href="http://cbd.minjust.gov.kg/act/view/ru-ru/111262?cl=ru-ru">Code</a>]