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On March 27, 2024, Air Astana Joint Stock Company announced it reached an agreement with Pratt & Whitney for compensation and support concerning GTF neo engine availability issues. The Group also executed a purchase agreement with IAE for a sixth spare engine, scheduled for delivery in April 2024. Additionally, its subsidiary FlyArystan executed a lease agreement for two A320ceo aircraft, with deliveries expected in the first quarter of 2025.
| Date | 27 Mar 2024 |
| Time | 07:00:06 |
| Category | Acquisitions and alliances |
| ID | 4075I |
27 March 2024
Air Astana Joint Stock Company
Compensation Agreement with Pratt & Whitney
Fleet Update
Air Astana Joint Stock Company (the "Company" and, together with its subsidiary FlyArystan, the "Group"), the largest airline group in Central Asia and the Caucasus regions by revenue and fleet size, is pleased to announce that it has reached an agreement with Pratt & Whitney that provides compensation and other support for the impact to the Group's operations arising from the GTF neo engine availability issues. The agreements that we have with Pratt & Whitney, including our long term maintenance contracts, will help address costs and will supplement the existing range of robust operational initiatives to address these issues in a sustainable manner.
The Group has also executed the purchase agreement for a sixth spare engine PW1100 with IAE. This engine, which is scheduled for delivery in April 2024, is aligned with the Group's mitigation plan for engine issues.
In addition to the previously communicated fleet plan, FlyArystan has executed a lease agreement for two A320ceo aircraft, with deliveries in the first quarter of 2025.
Enquiries:
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Air Astana Group |
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Irina Martinez (Head of Investor Relations) |
+7 727 258 41 36 |
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Bella Tormysheva (Vice-President, Corporate Communications) |
+7 727 258 41 35 |
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Instinctif Partners (IR and PR Adviser to Air Astana Group) |
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Damian Reece |
+44 7931 598 593 |
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Joe Quinlan |
+44 7493 867 439 |
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Vivian Lai |
+44 7493 867 459 |
About the Air Astana Group
Air Astana Group is the largest airline group in Central Asia and the Caucasus regions by revenue and fleet size. The Group operates a fleet of 50 aircraft split between Air Astana, its full-service airline that operated its inaugural flight in 2002, and FlyArystan, its low-cost airline established in 2019. The Group provides scheduled, point-to-point and transit, short-haul and long-haul air travel and cargo on domestic, regional and international routes across Central Asia, the Caucasus, the Far East, the Middle East, India and Europe. In 2023, Air Astana was recognised eleven times in a row as the "Best Airline in Central Asia and CIS" at the Skytrax World Airline Awards and received a five-star rating in the major airline category by the APEX. FlyArystan was also awarded the Skytrax Award for "Best low-cost carrier in Central Asia and CIS" for the first time, and is one of the twelve Skytrax 4-Star airlines globally. The Group is listed on the Kazakhstan Stock Exchange, Astana International Exchange and London Stock Exchange (ticker symbol: AIRA).