Peter Foster has completed his tenure as Chief Executive Officer of Air Astana JSC, a role he held for nearly two decades.
WHO WILL LEAD THE COMPANY
According to the company, the new CEO appointed is Ibrahim Janliel, who previously served as Chief Financial Officer. He has been with Air Astana since 2003.
Peter Foster is not leaving the company entirely and will continue to work as an advisor to the board of directors.
FOSTER'S ROLE AT THE COMPANY
Peter Foster had led Air Astana since 2005. Prior to this, he held senior positions at international airlines, including Royal Brunei Airlines and Philippine Airlines Inc.
During his tenure, the company established itself as Kazakhstan's leading carrier. In the first half of 2024, Air Astana's revenue was $586.2 million, which is 12.9% higher compared to the same period in 2023 ($519.1 million).
CONTEXT
In recent years, Air Astana's activities have been accompanied by public discussion. Previously, the editorial team of FBRK reported that the total payments to Peter Foster from 2020 to 2024 amounted to approximately 1.4 billion tenge.
In 2023, the company was suspected of abusing its dominant position and was fined more than 876 million tenge. In April 2024, Air Astana was held administratively liable for non-compliance with information security requirements.
Particular attention was drawn to the criminal case surrounding FlyArystan. The court found three former managers guilty of embezzlement and money laundering.