Air Astana to go public

Kazakhstan’s largest airline Air Astana, 49% owned by BAe, has announced plans to launch an Initial Public Offering (IPO) before the end of the year. The balance of shares is held by the country’s Sovereign Wealth Fund.

It is seeking a dual listing in both the Astana International Exchange (AIX) and the London Stock Exchange (LSE).

A former member of the Soviet Union, Kazakhstan is the world's ninth-largest country by land area and the largest landlocked country but has a population of just 20 million.  

Air Astana currently operates a fleet of 49 aircraft on 50 routes covering 34 destinations.  The Kazakh airline, which carried 4.4 million passengers in the 12 months to 30 September 2023, plans to expand its fleet to 80 aircraft by 2028. It also owns 100% of FlyArystan, the country’s largest low-cost airline, which has also been expanding and currently controls 38% of the domestic market in Kazakhstan.

A Heathrow route currently operates to Almaty on a Tuesday and Thursday via Aktau using a two-class Airbus A321 Neo.

Long-standing President and CEO is Peter Foster, a British subject.

https://airastana.com

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