January 19, 2020, 22:58


Air Astana Financial Results 54% Greater in First Half of 2019

Air Astana Financial Results 54% Greater in First Half of 2019

Although airlines usually demonstrate moderate results in the first six months of the year, earnings of Kazakhstan’s national carrier have grown by 12 percent. At the same time, its losses have shrunk, from $15 million in the first half of 2018 to just $7 million this year.

Revenue for the Kazakh state carrier Air Astana rose by 12 percent over the first six months of this year, while operating costs grew by 7 percent, the company revealed. As a result, Air Astana’s financial results grew by 54 percent while its losses decreased from $15 million in the first 6 months of 2018 to $7 million over the same period this year.

Passenger flow has grown by 1 percent in the first half of this year, in comparison to last year, as the company carried a reported 2.1 million people. The growth is significantly higher for domestic routes, as the number of travellers flying within Kazakhstan increased by 39 percent.

Company president and CEO, Peter Foster, revealed that Air Astana continues to renew its fleet, now with 36 planes including new-generation Airbus 320 NEOs and 3 Embraer E195-E2 jets, which emit 15 percent less CO2. At the same time, the average age of its fleet’s aircraft is below 8 years.

The Air Astana boss pointed out that his company demonstrated improved stats, while competitors reported significantly lower results during the same period. He stated that a key event in the first half of 2019 was the launch of the country’s first low-cost airline, Fly Arystan, which began 1 May, as planned. This stimulated the market, he suggested, which grew by 30 percent in major hubs and 100 percent in regional airports.

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