Air Astana net profit up 461% in 2019 ·

Air Astana net profit up 461% in 2019

Kazakhstan’s Air Astana has recorded a net profit (unaudited) for 2019 of US$30.03 million, up from US$5.3 million in the previous year. The airline carried 5.058 million passengers, an increase of 17% over 2018, with total airline revenue up by 6% to US$893 million. Unit cost was lower at 5.5 US cents per Available Seat Kilometre.

Commenting on the results, President and CEO Peter Foster stated that “passenger demand improved considerably during the year, driven by a significant increase in charter operations and by increased demand primarily on domestic routes, as a result of the successful launch of our Low-Cost Airline FlyArystan on 1st May 2019. Whilst yields have been affected by increased competition on international routes, reduced average domestic ticket prices and the lower value of the Kazakh Tenge, this was more than offset by increased demand and lower unit cost.”

Looking forward to 2020, Foster stated that “FlyArystan continues to grow ahead of expectations, and certain structural changes, such as the move to Domodedovo Airport at Moscow in line with the comprehensive S7 code share, and replacement of the Boeing 757 fleet by Airbus 321 Long Range aircraft, enable us to be cautiously optimistic. However, the impact of the Coronavirus is a significant unknown.”  Air Astana operates to Beijing and Urumchi, both of which will operate with lower frequency in the event that restrictions on outbound group traffic from China remain in place for an extended period.

About Air Astana

Air Astana started regular flights 15 May 2002 and now operates on a network of 60 international and domestic routes from hubs in Almaty and Nur-Sultan The fleet comprises 38 Boeing 767-300ER, Boeing 757-200, Airbus A320/A321 (CEO/NEO/LR) and Embraer E190/E2 aircraft. Air Astana became the first carrier from the CIS and Eastern Europe to be awarded a 4-star rating and the Best Airline in Central Asia and India by international ratings agency, Skytrax in 2012 and has repeated the achievement every year through until 2019.

Air Astana is a joint venture between the National Welfare Fund of Kazakhstan “Samruk-Kazyna” and BAE Systems with respective shares of 51% and 49%.

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