Air Astana Faces Boeing 787 Delays as CEO Peter Foster Prepares to Step Down

In 2022, Kazakhstan’s flagship carrier Air Astana announced a major expansion of its fleet — three new Boeing 787-9 Dreamliners, to be leased from Air Lease Corporation (ALC). Deliveries were scheduled between the first half of 2025 and spring 2026. So far, none of the aircraft have arrived in Kazakhstan — but there’s still time.

Meanwhile, it was recently revealed that Peter Foster will step down as the airline’s CEO and leave the board at the end of March 2026. How much the company will pay for the new aircraft — and whether the delivery delays are connected to Foster’s departure — is explored in this Orda.kz report.

The Lease Deal

On November 11, 2022, Air Lease Corporation announced a long-term lease agreement for three new Boeing 787-9s for Air Astana, with deliveries planned from early 2025 through spring 2026 from ALC’s Boeing order book. Air Astana later confirmed the deal on its official website, noting that the first aircraft would arrive in the first half of 2025.

Delays in Delivery

Throughout 2024–2025, Air Astana repeatedly revised its delivery schedule due to manufacturing delays at Boeing. Initially, the first 787-9 was expected by the end of 2025; then the estimate shifted to the first quarter of 2026, and later to the second half of that year. These updates appeared in industry publications and databases.

According to Aviation Week, the delay has also postponed long-anticipated direct flights from Kazakhstan to the U.S., since Air Astana has yet to receive the new Dreamliners.

The current official delivery date is spring 2026 — coinciding neatly with Peter Foster’s departure. It seems likely he intends to see the project through before stepping down. To clarify this point, Orda.kz has sent an official inquiry to Air Astana.

The Astana–New York Story

On December 30, 2019, the United States and Kazakhstan signed an Open Skies agreement lifting restrictions on frequency, capacity, and routes. It took effect on April 1, 2022, allowing airlines to plan Kazakhstan–U.S. routes commercially.

However, to operate direct flights to the U.S., Kazakhstan’s aviation safety oversight must meet ICAO standards — specifically, Category I under the FAA’s IASA program. In 2024, the U.S. and Kazakhstan agreed on a preliminary IASA evaluation, and the FAA conducted a technical review in August 2024.

Still, problems with aircraft deliveries have prevented Air Astana from launching the service.

Even once the 787-9s arrive, a direct Astana–New York flight is only feasible via the shortest routes through Russian airspace. Without access, the flight becomes longer, more complex, and costlier. An alternative would be a stopover in Europe — but again, only with the new 787-9s in operation.

The Costs

Boeing no longer publishes list prices. The last official catalog in 2019 put a Boeing 787-9 at $292.5 million. Current lease rates for a new aircraft of this model are roughly $1 million per month.

The Boeing 787-9 is a long-haul, twin-engine widebody in the Dreamliner family. In a typical two-class layout, it carries 290–300 passengers over distances up to 14,000 km at a cruising speed of about 900 km/h. It is 63 meters long, with a 60-meter wingspan and 17 meters in height, and a maximum take-off weight of around 254 tonnes.

Fuel capacity is about 139,000 liters. The aircraft uses GE GEnx-1B or Rolls-Royce Trent 1000 engines, and its extensive use of composites plus a pressurized, humidified cabin ensure better fuel efficiency and passenger comfort.

Billions on Paper, Miles in the Air

Air Astana has not disclosed the reasons for the delays or the specific terms of the lease, likely due to a non-disclosure agreement (NDA). However, traces of the deal appear in the company’s 2024 financial report, showing advance payments and planned installments for the new jets.

The report lists future lease payments for aircraft scheduled to join the fleet between Q4 2024 and 2026, broken down as follows:

• Within one year: ₸15.49 billion
• After one year, but within five years: ₸257.8 billion
• Beyond five years: ₸391.47 billion

In total, the company has around ₸665 billion in future lease obligations for aircraft to be delivered (some already received) in 2024–2026 — most of it extending beyond five years.

In 2022, Air Astana signed operating leases for 12 A320neo and three A321neo aircraft, some replacing older jets. The 2024 report also references the three Boeing 787-9s, which account for a large share of the long-term payments.

In all, the airline has taken 18 aircraft on lease.

Financial Health of Air Astana

Auditors note rising demand and revenue — but also higher costs. The biggest expenses remain fuel and personnel, with depreciation growing due to fleet expansion and renewal.

Meanwhile, management compensation has also increased:

• Salaries and bonuses: ₸1.59 billion (up from ₸1.2 billion)
• Share-based payments: ₸615 million (none the previous year)
• Severance payments: ₸121 million
• Social tax: ₸148 million (up from ₸120 million)

Theft Inside the Company

In December 2024, Air Astana reported a ₸1 billion embezzlement uncovered within its low-cost subsidiary FlyArystan, referring the case to law enforcement.

An internal audit revealed ticket-pricing manipulation. CEO Peter Foster confirmed the embezzlement scheme, saying it involved “pricing manipulation.”

The Economic Investigation Department of Almaty opened a criminal case under Article 189, Part 4, Clause 2 of Kazakhstan’s Criminal Code — “Embezzlement of entrusted property on a large scale” — which carries a penalty of up to 12 years in prison with confiscation of property.

The case has been submitted to court.

Original Author: Ilya Astakhov