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Air Astana accelerates growth with triple listing plan

Posted: 09 February 2024

The Air Astana Group, the largest airline group in Central Asia and the Caucasus region based on market share, today celebrates a key milestone of commencing conditional trading of GDRs on the London Stock Exchange, in connection with its IPO and triple listing on the London Stock Exchange, Kazakhstan Stock Exchange and Astana International Exchange. This achievement demonstrates the Company’s remarkable success over the last two decades as one of the fastest-growing airline groups in the world, which carries around 8 million customers annually and delivers award-winning levels of service on board its aircraft.

An initial public offering in 2024 also marks the next stage of growth for the Air Astana Group, fuelling the Company’s continued fleet expansion plan and initiative to increase its operational flexibility. 

The Air Astana Group consists of two differentiated but complementary brands (Air Astana, its full-service brand and the flag carrier of Kazakhstan, and FlyArystan, its low-cost carrier brand), which allows the Air Astana Group to target different customer markets and geographies, providing choice across a range of customer needs and travel purposes.

Through its young and modern fleet of 50 aircraft (as at January 2024), the Company operates more routes and serves more destinations than any other airline in its extended home market, Kazakhstan, Central Asia and the Caucasus, and is strategically located to connect with flights across Europe, the Middle East and Asia. Over its 20-year history, the Air Astana Group has 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.

Looking ahead, the Company sees significant opportunities to thicken its existing routes and expand into new geographic areas, aiming to realise its vision of growing from the heart of Eurasia to build one of the finest airline groups in the world.

QUICK FACTS

  • Track Market: LSE Main Market
  • Commencement of conditional trading of GDRs on LSE: 9 February
  • Commencement of unconditional trading of GDRs on LSE: 14 February
  • Commencement of unconditional trading of GDRs on AIX in Kazakhstan: 15 February
  • Commencement of trading of Shares on AIX and KASE in Kazakhstan: 15 February

Peter Foster OBE, President & CEO at Air Astana Group, commented:

“I am delighted to share our success today by announcing next stage in our journey to becoming a public company with the start of conditional dealings on the LSE.

As the flagship carrier of Kazakhstan, we are 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 continue to provide high quality customer service, whilst delivering operational and financial excellence.

The event today reflects the strong foundations of the Air Astana Group and the compelling prospect of increased air travel across our key markets. The listings in London and Kazakhstan creates the perfect platform for both local Kazakh investors and international investors to participate in our success story, as we continue to grow into one of the top international airline groups."

Julia Hoggett, CEO of the London Stock Exchange, said:

“I am delighted to welcome another IPO by a leading Central Asian company to the Main Market. Air Astana’s impressive track record and growth journey make it one of fastest growing airline groups. This successful cross-border IPO reiterates the London Stock Exchange’s position as the venue of choice for leading international companies.”

For more information, please visit https://airastana.com/

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