Air Astana signs agreement to lease seven Airbus aircraft from 2026

ASTANA. July 30 (Interfax) - Kazakh airline Air Astana has reached an agreement with Air Lease Corporation for the operational leasing of seven Airbus A321neo LR aircraft, with deliveries starting in 2026, the company said on Tuesday.

"On July 26, 2024, Air Astana signed an agreement with Air Lease Corporation for the operational leasing of seven Airbus A321neo LR aircraft following the board of directors' approval of this major transaction on July 25, 2024. Deliveries will begin in 2026," it said.

The leasing decision "aligns with the group's plans to expand its fleet to 80 aircraft by the end of 2028."

The airline did not specify whether the leased aircraft are also intended for its low-cost subsidiary, FlyArystan.

Air Astana, the largest airline in Kazakhstan, held an Initial Public Offering (IPO) in February 2024, raising nearly $370 million and valuing the entire company at $847 million. The carrier's shareholders now include the European Bank for Reconstruction and Development (5%) and the Unified Accumulative Pension Fund of Kazakhstan (6.5%). The shares of the previous shareholders - Kazakhstan's Sovereign Wealth Fund Samruk-Kazyna and British BAE Systems - decreased to 41% and 15.6%, respectively.