Air Astana Takes Flight: IPO Roadshow Set for Jan. 29 Following Public Listing Announcement

ASTANA – Air Astana, Kazakhstan’s national carrier, to start its initial public offering (IPO) roadshow on Jan. 29 after announcing its intention to float on the London Stock Exchange, Astana International Exchange (AIX), and Kazakhstan Stock Exchange (KASE), reported the company’s press service on Jan. 19. 

Photo credit: Air Astana

“On behalf of the company, I am delighted to formally confirm our intention to bring Air Astana Group to the public markets. As the largest airline group in Central Asia and the Caucasus, we are confident that our industry standing, market position, and growth profile present a compelling investment opportunity. This is an important milestone in our long-term strategy and we look forward to welcoming new Kazakh and international investors as shareholders,” Air Astana Group President and CEO Peter Foster said, adding that the company intends to raise an additional $120 million.

The London admission and AIX admission are expected to occur in February  and KASE admission is expected “to occur on or around the date of this announcement.” 

In the run-up to the IPO announcement, FlyArystan low-cost airline has been separated from Air Astana as an independent legal entity. According to Dastan Adikhodzhayev, director of assets privatization and restructuring department of Samruk Kazyna Sovereign Wealth Fund, within a few months, FlyArystan will get its air operator certificate, necessary for regulatory and safety requirements.

Last year, Air Astana airline garnered accolades for its service, winning the Skytrax award and becoming the best airline in Central Asia and the Commonwealth of Independent States (CIS) for the 11th time.

Earlier this month, Air Astana received the Best Passenger Service/Product Innovation Airline of the Year award at China Civil Aviation magazine’s Sky Choice Travel Awards ceremony in Beijing.

“This is the first time we have won this award, with sincere thanks for the recognition from Civil Aviation Magazine of China and our Chinese passengers”, said Shu Wang, Country Manager China of Air Astana.

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