Air Astana reported a 12.4% revenue increase to $1.3 billion for the fiscal year ending December 31, 2024. The airline’s shares rose nearly 3% to $6.22, and a special dividend of $0.425 per GDR was proposed due to solid financial results. Operationally, Air Astana added eight aircraft, with plans for further expansion, including new routes and partnerships.
Air Astana, the leading airline in Central Asia and the Caucasus, reported impressive financial results for the fiscal year ending December 31, 2024. The airline’s revenue rose by 12.4%, reaching $1.3 billion, contributing to a share price increase of nearly 3% to $6.22. This report marks the first since Air Astana’s $356 million initial public offering in February 2024. The airline also proposed a special dividend of $0.425 per global depositary receipt (GDR) due to its strong financial performance and solid balance sheet.
In addressing operational matters, Air Astana settled a case with engine manufacturer Pratt & Whitney concerning its PW1100G engines used on the A320-200 neo fleet. The airline continues to manage its fleet strategically, having added eight net aircraft in 2024, surpassing initial growth projections. Currently, Air Astana operates a total of 60 aircraft, with expectations to expand to 63 by year-end, leveraging a mitigation plan to optimize engine performance during low seasons.
Chief Executive Officer Peter Foster noted a significant increase in passenger traffic for the airline, with nearly one million additional passengers served in 2024. This growth is attributed to heightened demand for air travel in Kazakhstan and expanding service areas, alongside announcements of eight new routes planned for 2025. Direct flights to major destinations such as Frankfurt, Guangzhou, Mumbai, and multiple cities in Vietnam are included in these plans. Additionally, Air Astana has formalized a memorandum of understanding with China Southern Airlines to further enhance its market presence in the region.
Air Astana’s strong financial performance, characterized by a robust revenue increase and the announcement of a special dividend, reflects its strategic growth and resilience in the aviation sector. The company’s proactive fleet management, expansions, and new route announcements further underscore its commitment to improving services and customer satisfaction in a competitive market. With a focus on increasing capacity and strategic partnerships, Air Astana is poised for continued success in the future.
Original Source: www.sharesmagazine.co.uk
