Air Astana (KC, Astana Nursultan Nazarbayev) will undertake an initial public offering (IPO) next year ahead of its expected acquisition of more Airbus and Boeing aircraft in 2025, its chief executive Peter Foster told Kazakh President Kassym-Jomart Tokayev in a briefing on the company’s plans for 2023-2027.

The national carrier “plans to supplement its fleet with new-generation aircraft such as the A320 and B787 Dreamliner. These planes will be delivered in 2025,” the president’s official Akorda news site reported.

Tokayev “positively assessed the company’s activities and supported its development strategy to expand its fleet and flight network. Also during the meeting, the airline price policy was discussed, aimed at increasing the number of passengers.” Last month, the Kazakh competition regulator launched proceedings against the airline due to alleged violations in the formation of ticket prices.

Kazakh sovereign wealth fund Samruk-Kazyna currently owns 51% of Air Astana while the UK’s BAe Systems (Warton) holds the remainder. As part of an acceleration of economic reforms since widespread anti-government riots a year ago, the government swiftly began to bring forward its long-planned - since 2011 - IPO for Air Astana.

Air Astana revealed in November that it would lease three B787-9s from Air Lease Corporation with deliveries between early 2025 and the first half of 2026. It also has three B787-8s on direct order from Boeing but the delivery of which has been repeatedly deferred. Among other destinations, it plans to use the -9s to launch its first services to the United States.

In a statement released in December, it said: “In 2023, the fleet of the Air Astana group of companies is expected to increase by six aircraft,” without disclosing the types.

Air Astana, which includes budget unit FlyArystan (KC, Astana Nursultan Nazarbayev), took delivery of both its tenth A321-200NX(LR) and its ninth A320-200N last month, the ch-aviation fleets module shows. These add to a 43-strong fleet that also comprises four A321-200Ns, two A321-200s, ten A320-200s, three B767-300ERs, and five ERJ 190-300s. Adding to its 62 routes in 2023 will be Tel Aviv Ben Gurion and Madinah.