business and economy
Air Astana plans to raise $1.445 billion to buy aircraft
(SRI) - Air Astana is planning to raise funds to purchase new Airbus and Boeing aircraft, said company president Peter Foster.
In late 2007 Air Astana placed an order to purchase six Boeing 787-8 and nine Airbus A320 aircraft. The total value of the order is nearly $1.7 billion.
“We plan to pay 15 percent of the new aircraft from the company’s own funds and 85 percent from borrowed monies,” Foster said a Tuesday press conference in Almaty at the Interfax press center.
Foster said that the company will not sell its shares to raise funds for the purchase.
Air Astana Vice President Askhat Beisenbaev said that the company will not start raising the funds until 2010. The delivery of the new aircraft is expected to start in 2012.
U.S.’s Eximbank will be financing the purchase of Boeing aircraft while lending organizations from Germany, UK and France will be financing the purchase of Airbus planes, Beisenbaev said.
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