Kazakhstan's Air Astana poised to complete several milestones in 2012 including IPO
ASTANA. January 10. KAZINFORM Air Astana is opening a new chapter in its short but so far highly successful history as the Kazakhstani carrier approaches its second decade. Air Astana, which launched services in May-2002, is now preparing for an initial public offering which should generate capital to support further rapid growth.
The IPO and 10th anniversary are two of several potential milestones for the carrier in 2012. This year Air Astana will likely place its first ever widebody aircraft orders, converting an earlier letter of intent (LoI) for Boeing 787s and purchasing 767-300ERs. The carrier also plans to take delivery of its first owned aircraft this year and aims to join before the end of 2012 the Association of Asia Pacific Airlines (AAPA ).
According to CAPA , Air Astana is now relatively small by global standards, operating a fleet of only 26 aircraft (24 narrowbodies and two widebodies, all of which are leased) to 54 destinations. But it has emerged as a leading carrier in the increasingly important emerging market of Central Asia, an enviable position it now seeks to capitalise on as Kazakhstan 's largest city, Almaty, is developed into a hub for the region.
Financially, Air Astana has performed better in its first decade than just about any other start-up carrier. Air Astana has been in the black every year since 2003, racking up about USD300 million in profits since its launch. Air Astana in recent years has had one of the highest net profit margins in the industry, including 12% in 2010 and 9% through the first three quarters of 2011.
Details also at http://www.centreforaviation.com/