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Friday, 24 July 2015

Air Astana Reports H1 2015 Results

Air Astana increased its operating profit by 115% to US$23.9 million in the first half of 2015.

Net profit was US$8.3 million, versus a loss of US$36.4 in the first half of 2014 (the result of a book loss following a local currency devaluation), whilst passenger numbers increased by 4% to 1.82 million. Total revenue was 9% lower.

Commenting on the result, President and CEO, Peter Foster, OBE, said, Whilst regional markets remain sluggish due to currency weakness and falling commodity prices, cheaper fuel and other cost-saving measures have combined to produce a fair result. We continue to expand and have recently added routes from Astana to Paris, Seoul, Bangkok and Tbilisi. We do not expect 2015 to be a stellar year, however our low unit cost and expanded network will allow us to take full advantage of market recovery when it comes.

Air Astana recently concluded an agreement with Air Lease Corporation Inc. for seven Airbus 320 family NEOs, including four A321 Long Range aircraft, to be delivered from 2016.

Air Astana commenced regular flight operations on 15 May, 2002 and currently operates a network of 64 routes between 39 international and domestic destinations. Air Astana operates a fleet of 30 aircraft including three Boeing 767-300ER, five Boeing 757-200, thirteen Airbus A320 family aircraft and nine Embraer E-190.

See also: Exclusive HD Video Interview with President and CEO of Air Astana - Peter Foster, OBE.

Air Astana, Peter Foster, Almaty, Astana

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