Air Astana announces intention to float on the London Stock Exchange

Air Astana, one of the fastest growing airline groups in the world, today announces an expected intention to float on the London Stock Exchange.

Shares will also be listed on the AIX and KASE exchanges in Kazakhstan.

The Air Astana Group is the largest airline group in Central Asia and the Caucasus with 69%, 40% and 47% of market share on domestic, intra-regional and international routes from Kazakhstan, respectively (LTM September 2023).

Through its young and modern fleet of 49 aircraft (as at 31 December 2023), it provides scheduled, point-to-point and transit, short-haul and long-haul air travel and cargo on domestic, intra-regional and international routes across Central Asia, the Caucasus, Europe (including Turkey), the Middle East and Asia (including India and China).

In the nine months ended 30 September 2023, the Air Astana Group carried approximately 6.0 million passengers on approximately 41.0 thousand flights on 99 routes across 21 countries, compared to approximately 7.3 million passengers on approximately 52 thousand flights on 88 routes across 16 countries in the year ended 31 December 2022.

Peter Foster, Air Astana Group President and CEO, commented, “The Air Astana Group has achieved remarkable success over the last two decades to become the largest airline group in Central Asia and the Caucasus.

“Today, we are one of the fastest-growing airline groups in the world with a modern, fuel-efficient fleet, carrying around 8 million customers annually and delivering award-winning levels of service on board our aircraft.

“As the flagship carrier of Kazakhstan, I am proud of our role in transforming connectivity across the region, a thriving and rapidly developing aviation market with untapped growth potential.

“Through our full-service airline Air Astana and our low-cost carrier FlyArystan, we operate more routes and serve more destinations than any other airline in our extended home market, Kazakhstan, Central Asia and the Caucasus and are strategically located to connect with flights across Europe, the Middle East and Asia.

“Over the Air Astana Group’s 20-year history, we have consistently generated profitability through the cycle, culminating in a post-COVID recovery that outstripped global peer averages, delivering Adjusted EBITDAR CAGR of 19.0% between 2019 and 2022.

“Our intention to list in London and Kazakhstan demonstrates the strong foundations of the Air Astana Group and the exciting prospects to increase air travel across our key markets.

“We are confident that the initial public offering will accelerate the next stage of growth for the Air Astana Group, and we see significant opportunities to thicken our existing routes and expand into new geographic areas, supported by our continued fleet expansion plan and initiatives to increase operational flexibility.

“I would like to thank all our employees for their effort and professionalism in this project, and we look forward to welcoming potential investors as we continue our growth story on the public markets.”