Peter Foster: No capitalization required for Air Astana

Peter Foster, President, Air Astana, responded to a statement made by Aybek Alzhanov, Deputy Chairperson, Civil Aviation Committee, regarding the planned additional capitalization of the air company, Kazinform reported.

“Recently, there was a statement made by the Deputy Chairperson of the Civil Aviation Committee on the need for additional capitalization of the Air Astana group of companies. For our part, we would like to state that this information is not true. No capitalization has been required since the start of operations. Air Astana. adheres to commercial principles of doing business and has not yet requested any additional funds from shareholders or the Government of Kazakhstan. In the future, we also intend to adhere to this principle,” Peter Foster told reporters on the sidelines of a board of the Ministry of Industry and Infrastructure Development.

He specified that the group of companies plans to carry out growth development of Air Astana and FlyArystan at its own expense.

We will remind that Mr. Alzhanov said earlier, “To radically change the situation regarding the high cost of air tickets, the Government, jointly with Samruk-Kazyna National Welfare Fund have plans for additional capitalization of airlines such as Air Astana and Qazaq Air to increase their air fleet.”

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