The president of Air Astana has stated that it is “likely” to launch an IPO in the next two or three years. The principal carrier for Kazakhstan had originally planned to float at least 20 per cent of its shares in a domestic IPO during late 2012 to early 2013. However, issues with BAE Systems (a 49 per cent stakeholder) and unfavourable market conditions delayed the proposal. The airline has seen considerable growth since its launch 12 years ago and a number of fleet expansions are set to take place over the coming months. The airline is also preparing to issue a “request for proposal” to leasing companies this summer as it seeks a replacement narrowbody aircraft for its 757s. Air Astana is currently considering the A321neo and 737max and a final decision is expected by the start of Q4 2014.