Air Astana recovers from profit slump
Air Astana, Kazakhstan’s principal airline, has announced unaudited profit after tax for 2012 of USD57.2 million, a drop of 7% over 2011.
Total revenue increased by 16% to USD870 million against a capacity increase of 14%.
The airline took delivery of two Airbus A321s, one Airbus A320 and two Embraer 190s, purchased via export credit finance leases, and retired its entire fleet of Fokker 50s.
Peter Foster, Air Astana’s president, said the full year proved much better than expected "after a difficult first half in which profit fell by more than 80%".
"In the second half, the strength of CIS markets, the strong performance of new services to China and Hong Kong, and non-fuel savings have made up most of the difference and offset to some extent higher fuel prices, though margins have fallen."
Foster said he expected 2013 to be "another mixed year with continued cost pressure, though at present markets remain stable".
Air Astana operates a network of more 50 international and domestic services from hubs in Almaty, Astana and Atyrau.
Ian Jarrett
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