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Thu, 21 July 2016

Air Astana Reports Net Loss of US$6.6 Million

Air Astana has reported a net loss of US$6.6 million, and an operating profit of US$0.975 million, for the first half of 2016.

Operating revenue fell by 30% to US$275 million, driven by a signification devaluation of the Kazakh Tenge in comparison with the first half of 2015, and by weaker regional travel markets in the wake of commodity price falls. Passenger numbers fell by 7% to 1.69 million.

The macro-economic environment has been and continues to be extremely challenging for all airlines operating in the region. However we have been able to compensate to a large extent for a steep drop in revenue, particularly on domestic routes, by further reducing unit cost and by substantially increasing international transit traffic between Europe and Asia, said Peter Foster OBE, Air Astana President and CEO. The interim result is therefore better than expected under the circumstances. Prospects for the rest of the year remain uncertain, however there are signs that regional economies are adjusting to structurally lower commodity prices. Further development of transit business over our Astana and Almaty hubs continues to be a priority.

  Air Astana commenced scheduled flight operations on 15th May 2002 and currently operates a network of over 60 international and domestic routes from hubs in Almaty and Astana.

Air Astanas fleet of 30 aircraft includes Boeing 767-300ER, Boeing 757-200, Airbus A320 family and Embraer E-190 types.

See also: Kazakhstan Tourism Update Interview from JATA 2016, Pictures from Almaty and Astana in Kazakhstan (2015), Interview with President and CEO of Air Astana - Mr. Peter Foster OBE (2015), Interview with GM of The Ritz-Carlton, Almaty (2015), HD Video of Astana (2011), Interview with Peter Foster, President of Air Astana (2011), Interview with Interim GM of Radisson Astana (2011), and HD Video of Almaty (2011).

See other recent news regarding: Air Astana, Kazakhstan, Almaty, Astana

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