- Passengers up 6.9% to 2.2 million
- 21 new routes added in 2024
- 12.4% rise in revenue to $1.3 billion
Shares in Air Astana (AIRA) gained nearly 3% to $6.22 in morning trading as the Kazakhstan-based airline reported a 12.4% rise in revenue to $1.3 billion for the full year ending 31 December.
The fourth-quarter and full-year results were the first since the company made its $356 million IPO debut in February 2024.
The Kazakh airline, the largest in Central Asia and the Caucasus, also proposed a special dividend ‘in light of the group’s robust financial results for 2024 and strong balance sheet’, taking the total payout to $0.425 per GDR (global depositary receipt).
PRATT & WHITNEY MITIGATION PLAN
A year ago, Air Astana reached a settlement with engine maker Pratt & Whitney – part of US defence group RTX Corp (RTX:NYSE) – in connection to its PW1100G engines fitted to carrier’s A320-200 neo aircraft.
‘We continue to proactively manage the fleet and add capacity in line with our growth strategy. Under our Pratt & Whitney mitigation plan, we took early action to rest engines in the low seasons, secure additional aircraft and spare engine capacity.
‘We added 8 (net) aircraft in 2024, ahead of guidance, the fleet has subsequently expanded to 60 and is expected to reach 63 aircraft by year end,’ said the company.
WHAT DID THE CEO SAY?
Chief executive Peter Foster commented: ‘The group added nearly a million passengers in 2024 with an increasing load factor, driven by growing demand for air travel across Kazakhstan, our extended home market and nearby megamarkets.
‘In 2025, we have already announced another eight new routes in key growth markets, including direct flights from Almaty to Frankfurt, Guangzhou, Mumbai and Da Nang and Nha Trang in Vietnam.’
Foster told Shares the firm had just signed an MoU (memorandum of understanding) with China Southern Airlines to accelerate expansion into the neighbouring mega-market.
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