Air Astana H1 profits up by more than 100 percent
Kazakhstan carrier Air Astana has announced a surge in first half profits for 2015.
The carrier increased its operating profit by 115% to $23.9 million with passenger loadings up 4% to 1.82 million.
Net profit was $8.3 million, reversing a loss of $36.4 in the first half of last year due to a local currency devaluation.
"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," said Air Astana CEO Peter Foster.
"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," Foster added.
Recent new additions to the carrier’s network include Paris, Seoul, Bangkok and Tbilisi from its growing Astana hub, and the airline has reached an agreement with Air Lease Corporation Inc. for seven Airbus 320 family NEO jets, which includes four A321 Long Range aircraft.
It will begin taking delivery of the aircraft in 2016.
The Air Astana network currently comprises 64 routes served by a fleet of 30 aircraft.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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