Air Astana Achieves Record-Breaking Results in 2024
Air Astana, Kazakhstan and Central Asia’s leading airline, has announced its financial and operational results for 2024, demonstrating strong passenger growth, increased revenue, and higher profitability, along with strengthened market positions globally, DKnews.kz reports.
Despite industry-wide challenges, the company successfully boosted its profitability, expanded its passenger base to 9 million, and grew its route network. Moreover, in its first year as a public company, Air Astana delivered on its IPO commitments, providing attractive dividends and ensuring financial stability.
Throughout 2024, the airline launched new international routes, expanded its fleet, upgraded its technical infrastructure, and reinforced its reputation as the region’s top carrier. Air Astana continues to evolve, aligning with global aviation trends, enhancing service quality, and offering greater opportunities for its passengers.
Key Achievements of Air Astana in 2024
🔹 9 million passengers transported – an 11.2% increase compared to 2023.
🔹 Revenue grew by 12.4%, reaching $1.308 billion.
🔹 Net profit of $52.7 million.
🔹 Network expanded to 107 routes across 22 countries.
🔹 Fleet grew to 60 aircraft, with 63 expected by the end of 2025.
🔹 $356 million raised through IPO, with shares listed on three stock exchanges.
🔹 Dividends for shareholders: 53.7 KZT per share, 214.8 KZT per GDR.
🔹 Opening of the new international terminal in Almaty, increasing capacity to 14 million passengers per year.
📈 Financial Performance: Growth Amid Challenges
Despite rising costs across the aviation industry, Air Astana successfully increased profitability and exceeded expectations.
🔹 Total revenue – $1.308 billion (+12.4%).
🔹 Adjusted EBITDAR – $338.6 million (+16.1%).
🔹 Load factor – 83.5% (2023: 82.8%).
🔹 Net cash balance – $488.7 million (+78.4%).
🔹 Company equity – $394.5 million.
"We achieved strong growth in our first year as a public company. Robust demand and strategic network management allowed us to increase profitability and strengthen our industry position" Peter Foster, CEO of Air Astana
💰 Dividends: Strong Returns for Shareholders
Air Astana’s Board of Directors has proposed to the Annual General Meeting of Shareholders (AGM) the approval of dividend payments:
✔ 53.7 KZT per common share
✔ 214.8 KZT per Global Depositary Receipt (GDR, equivalent to four shares)
✔ Total payout amount: 19.1 billion KZT
📅 Approval deadline – no later than May 31, 2025.
📅 Payments scheduled for mid-2025.
The updated dividend policy now allocates 30-50% of net profit to dividend payments (previously up to 20%), making Air Astana an attractive investment and reinforcing shareholder confidence.
"This is a strong signal for our investors: the company remains profitable and is focused on long-term growth" Peter Foster
🛫 Expanding the Route Network
In 2024, Air Astana launched 21 new international routes, including:
✅ Almaty – Frankfurt
✅ Almaty – Guangzhou
✅ Almaty – Mumbai
✅ Astana – Phuket
✅ Almaty – London (Airbus A321LR)
The company has also signed a Memorandum of Understanding with China Southern Airlines, enabling code-sharing agreements and increased market presence in China.
🏆 Excellence in Service and Quality
For the 12th consecutive year, Air Astana was named Best Airline in Central Asia & CIS by Skytrax.
🔹 FlyArystan – recognized as the "Best Low-Cost Airline in Central Asia & CIS".
🔹 New Shanyraq business lounges opened in Almaty and Astana.
🔹 Nomad Club loyalty program updated, allowing passengers to earn points based on spending.
2025 Outlook: Air Astana Targets Further Growth
2024 was a milestone year for Air Astana, as the company successfully navigated industry challenges, achieved record financial results, expanded its route network, upgraded its fleet, and strengthened its global position.
🔹 9 million passengers – a new all-time high.
🔹 12.4% revenue growth, despite global economic factors.
🔹 21 new international routes launched.
🔹 Fleet expansion and technical upgrades.
🔹 Generous dividends for shareholders, reinforcing the company’s investment appeal.
What’s Next for Air Astana in 2025?
💡 Further route expansion – new flights to Asia, Europe, and the Middle East.
💡 Continued passenger growth – demand for air travel remains strong.
💡 Fleet expansion – additional aircraft to be introduced in 2025.
💡 Sustainability initiatives – focus on reducing carbon emissions and enhancing digital services.
Air Astana continues to solidify its position as Kazakhstan’s leading airline and a top carrier in Central Asia, demonstrating sustainable growth and a commitment to excellence.
The company enters 2025 with ambitious plans, ensuring continued expansion and long-term success on the global stage.
