REG - Air Astana JSC - Compensation Agreement with Pratt & Whitney Update
27/03/2024 08:15
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RNS Number : 4075I Air Astana JSC 27 March 2024
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:
Air Astana Group
Irina Martinez (Head of Investor Relations) investor.relations@airastana.com (mailto:investor.relations@airastana.com)
+7 727 258 41 36
Bella Tormysheva (Vice-President, Corporate Communications) media@airastana.com (mailto:media@airastana.com)
+7 727 258 41 35
Instinctif Partners (IR and PR Adviser to Air Astana Group) airastana@instinctif.com (mailto:airastana@instinctif.com)
Damian Reece +44 7931 598 593
Joe Quinlan +44 7493 867 439
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).
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