The Air Astana group incurred losses related to the IPO, which reached 5.2 billion tenge at the end of the first quarter of 2024.
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For reference: IPO is a process in which a company offers its shares to investors in exchange for capital by initially listing them on the public stock market.
For comparison, according to ‘Kursiv.Media’, the airline ended the first quarter of the previous year with a profit of 423.1 million tenge.
Despite the fact that the company's operating income in the first quarter of 2024 grew by 9.6%, and its financial income increased by 75.3%, reaching 119.2 and 2.3 billion tenge respectively, the airline's expenses continue to grow more quickly.
Consequently, the operating loss increased by 16.9%, amounting to 120.3 billion tenge compared to 102.9 billion a year earlier. Meanwhile, profit from operating and financial activities over the same period rose by just 11.4 billion tenge.