Air Astana plans to sell its shares through an IPO in 2-3 years, the Wall Street Journal reported yesterday citing the company's CEO, Peter Foster.
The raised funds will be used to finance new aircraft deliveries to drive growth. The airline plans to expand its network in Europe, adding Paris and Prague services next year, in Asia and Caucasus. According to CEO, in order to build confidence among future investors the carrier has steadily paid a dividend. In 2012-2013, the company distributed 30%-35% of its net profit as dividends to its shareholders, which amounted to T3.2bn and T2.7bn, respectively. The company reported a revenue of Т147bn and profit of T7.8bn in 2013.
Recall that in 2013 the company planned to float at least 20% of its shares on the domestic market as a part of the People's IPO program. However, the IPO was put off as the carrier's two shareholders, Samruk-Kazyna (51% stake) and UK's BAE Systems (49% stake), could not agree on sale terms.